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

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

A number of other large investors also recently modified their holdings of SITC. Neo Ivy Capital Management acquired a new stake in shares of SITE Centers in the 3rd quarter worth about $202,000. Vestcor Inc bought a new stake in SITE Centers during the 3rd quarter worth approximately $95,000. Jane Street Group LLC raised its stake in shares of SITE Centers by 3.3% in the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock worth $11,085,000 after purchasing an additional 5,779 shares during the last quarter. Soros Fund Management LLC bought a new position in shares of SITE Centers in the third quarter valued at approximately $3,025,000. Finally, Systematic Financial Management LP purchased a new position in shares of SITE Centers during the third quarter valued at approximately $203,000. 88.70% of the stock is currently owned by institutional investors.

SITE Centers Stock Up 1.2 %

SITE Centers stock opened at $15.58 on Friday. The firm has a 50 day moving average price of $16.27 and a 200-day moving average price of $117.84. 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 market capitalization of $816.60 million, a P/E ratio of 1.14 and a beta of 1.61.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $5.20. The business had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. SITE Centers’s revenue was down 37.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 earnings per share. As a group, equities analysts predict that SITE Centers Corp. will post 2.9 EPS for the current year.

Insider Buying and Selling

In related news, CEO David R. Lukes sold 168,895 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 136,008 shares in the company, valued at approximately $2,093,163.12. This represents a 55.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com started coverage on SITE Centers in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Stifel Nicolaus increased their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a report on Thursday, September 19th. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Truist Financial increased their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company cut shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.04.

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.