Teachers Retirement System of The State of Kentucky Sells 43,526 Shares of SITE Centers Corp. (NYSE:SITC)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of SITE Centers Corp. (NYSE:SITC) by 75.0% during the third quarter, HoldingsChannel reports. The firm owned 14,508 shares of the company’s stock after selling 43,526 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in SITE Centers were worth $877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in SITE Centers by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 87,671 shares of the company’s stock worth $1,282,000 after purchasing an additional 1,894 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of SITE Centers by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after acquiring an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in SITE Centers during the 2nd quarter valued at about $42,000. Signature Estate & Investment Advisors LLC bought a new stake in SITE Centers during the second quarter worth about $248,000. Finally, Panagora Asset Management Inc. purchased a new stake in SITE Centers in the second quarter worth about $3,089,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling at SITE Centers

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.54, for a total value of $58,554.72. Following the transaction, the director now directly owns 29,082 shares in the company, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David R. Lukes sold 168,895 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the sale, the chief executive officer now owns 136,008 shares of the company’s stock, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.10% of the stock is owned by corporate insiders.

SITE Centers Stock Performance

Shares of SITC stock opened at $15.27 on Thursday. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average price of $16.11 and a 200-day moving average price of $111.16. SITE Centers Corp. has a 52 week low of $15.21 and a 52 week high of $64.44. The firm has a market capitalization of $800.61 million, a PE ratio of 1.12 and a beta of 1.61.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm’s revenue was down 37.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. As a group, equities research analysts expect that SITE Centers Corp. will post 3.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SITC shares. StockNews.com started coverage on SITE Centers in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Morgan Stanley increased their target price on SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Truist Financial lifted their price target on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus increased their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Compass Point dropped their target price on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SITE Centers 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.