TCW Group Inc. Has $3.20 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

TCW Group Inc. reduced its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 75.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,877 shares of the company’s stock after selling 161,919 shares during the quarter. TCW Group Inc. owned 0.10% of SITE Centers worth $3,199,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vestcor Inc bought a new stake in shares of SITE Centers during the third quarter worth $95,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of SITE Centers during the 2nd quarter valued at $42,000. Neo Ivy Capital Management bought a new stake in SITE Centers during the 3rd quarter worth $202,000. Systematic Financial Management LP acquired a new position in SITE Centers in the 3rd quarter worth about $203,000. Finally, Quarry LP raised its position in SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after purchasing an additional 2,857 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David R. Lukes sold 168,895 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares in the company, valued at $2,093,163.12. The trade was a 55.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.10% of the stock is currently owned by insiders.

SITE Centers Trading Up 1.2 %

SITC opened at $15.58 on Friday. The stock has a market cap of $816.60 million, a PE ratio of 1.14 and a beta of 1.61. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a twelve month low of $15.24 and a twelve month high of $64.44. The company has a fifty day moving average of $16.27 and a 200-day moving average of $117.84.

SITE Centers (NYSE:SITC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The firm had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business’s revenue was down 37.5% compared to the same quarter last year. During the same period last year, the business posted $1.32 EPS. On average, sell-side analysts predict that SITE Centers Corp. will post 2.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SITC shares. Morgan Stanley boosted their price target on SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Stifel Nicolaus raised their price target on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com initiated coverage on shares of SITE Centers in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, Citigroup decreased their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.04.

About SITE Centers

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.