42,906 Shares in SITE Centers Corp. (NYSE:SITC) Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new position in SITE Centers Corp. (NYSE:SITC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 42,906 shares of the company’s stock, valued at approximately $2,596,000. Meeder Asset Management Inc. owned approximately 0.08% of SITE Centers at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of SITE Centers in the third quarter worth $355,000. GSA Capital Partners LLP bought a new position in SITE Centers in the 3rd quarter worth about $617,000. Panagora Asset Management Inc. purchased a new stake in shares of SITE Centers in the 2nd quarter valued at about $3,089,000. Peregrine Capital Management LLC boosted its position in shares of SITE Centers by 13.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 488,993 shares of the company’s stock valued at $7,090,000 after acquiring an additional 57,281 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of SITE Centers by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after purchasing an additional 1,500 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

SITE Centers Stock Performance

NYSE SITC opened at $15.70 on Tuesday. The firm has a market cap of $823.15 million, a price-to-earnings ratio of 1.15 and a beta of 1.62. The company has a 50-day simple moving average of $29.41 and a two-hundred day simple moving average of $142.90. 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 12-month low of $15.43 and a 12-month high of $64.44.

SITE Centers (NYSE:SITC) last issued its earnings results 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 company had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. SITE Centers’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.32 EPS. On average, equities analysts forecast that SITE Centers Corp. will post 2.9 EPS for the current year.

Wall Street Analysts Forecast Growth

SITC has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com initiated coverage on shares of SITE Centers in a research report on Monday. They set a “buy” rating on the stock. Stifel Nicolaus upped their target price on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Evercore ISI upgraded SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler dropped their price target on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.89.

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.