Teachers Retirement System of The State of Kentucky Reduces Stock Position in SITE Centers Corp. (NYSE:SITC)

Teachers Retirement System of The State of Kentucky trimmed its holdings in SITE Centers Corp. (NYSE:SITC) by 75.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,508 shares of the company’s stock after selling 43,526 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in SITE Centers were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SITC. Meeder Asset Management Inc. purchased a new stake in shares of SITE Centers in the third quarter worth about $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SITE Centers by 19.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock worth $19,612,000 after acquiring an additional 53,412 shares during the period. Soros Fund Management LLC purchased a new stake in SITE Centers in the 3rd quarter worth approximately $3,025,000. Jane Street Group LLC boosted its holdings in SITE Centers by 3.3% in the 3rd quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after purchasing an additional 5,779 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of SITE Centers during the 3rd quarter valued at $319,000. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SITC. Wells Fargo & Company lowered SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. KeyCorp reiterated a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Truist Financial upped their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Piper Sandler dropped their target price on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, StockNews.com began coverage on shares of SITE Centers in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.04.

Insider Buying and Selling at SITE Centers

In other news, CEO David R. Lukes sold 168,895 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at approximately $2,093,163.12. This represents a 55.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dawn M. Sweeney sold 3,768 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. The trade was a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.10% of the company’s stock.

SITE Centers Price Performance

SITC stock opened at $15.27 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The firm has a market cap of $800.61 million, a P/E ratio of 1.12 and a beta of 1.61. The firm’s fifty day moving average is $16.11 and its 200 day moving average is $111.16. SITE Centers Corp. has a 52 week low of $15.21 and a 52 week high of $64.44.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping the consensus estimate of $0.87 by $5.20. The firm had revenue of $89.43 million for 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 company’s quarterly revenue was down 37.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. Research analysts predict that SITE Centers Corp. will post 3.36 earnings per share for the current year.

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.