Bailard Inc. Acquires 4,500 Shares of SITE Centers Corp. (NYSE:SITC)

Bailard Inc. increased its position in shares of SITE Centers Corp. (NYSE:SITC) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,000 shares of the company’s stock after purchasing an additional 4,500 shares during the period. Bailard Inc.’s holdings in SITE Centers were worth $736,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC boosted its position in SITE Centers by 21.6% in the 3rd quarter. FMR LLC now owns 16,126,938 shares of the company’s stock valued at $198,845,000 after buying an additional 2,861,012 shares during the period. JPMorgan Chase & Co. boosted its position in SITE Centers by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,476,250 shares of the company’s stock valued at $227,812,000 after buying an additional 384,823 shares during the period. Tudor Investment Corp Et Al boosted its position in SITE Centers by 155.6% in the 3rd quarter. Tudor Investment Corp Et Al now owns 526,553 shares of the company’s stock valued at $6,492,000 after buying an additional 320,541 shares during the period. Invesco Ltd. boosted its position in SITE Centers by 36.0% in the 3rd quarter. Invesco Ltd. now owns 781,459 shares of the company’s stock valued at $9,635,000 after buying an additional 206,827 shares during the period. Finally, Hsbc Holdings PLC boosted its position in SITE Centers by 13.7% in the 3rd quarter. Hsbc Holdings PLC now owns 1,159,418 shares of the company’s stock valued at $14,327,000 after buying an additional 140,134 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

SITE Centers Price Performance

Shares of SITC opened at $13.47 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.24 and a current ratio of 3.24. The stock has a market capitalization of $2.82 billion, a PE ratio of 11.13 and a beta of 1.58. The company has a 50 day moving average price of $13.97 and a 200-day moving average price of $13.46. SITE Centers Corp. has a fifty-two week low of $10.88 and a fifty-two week high of $14.71.

SITE Centers (NYSE:SITC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. Equities analysts predict that SITE Centers Corp. will post 0.9 earnings per share for the current fiscal year.

SITE Centers Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 14th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Wednesday, March 13th. SITE Centers’s dividend payout ratio (DPR) is presently 42.98%.

Analyst Upgrades and Downgrades

SITC has been the subject of several research reports. Wolfe Research cut shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $15.50 price target on shares of SITE Centers in a research report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.25.

SITE Centers Company Profile

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.