Site Centers Corp. $SITC Stock Holdings Trimmed by Assetmark Inc.

Assetmark Inc. lowered its holdings in shares of Site Centers Corp. (NYSE:SITC) by 11.1% during the 2nd quarter, Holdings Channel reports. The fund owned 196,953 shares of the company’s stock after selling 24,679 shares during the period. Assetmark Inc.’s holdings in Site Centers were worth $2,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Site Centers by 275.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock valued at $27,000 after acquiring an additional 1,764 shares in the last quarter. AlphaQuest LLC raised its stake in Site Centers by 256.7% during the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company’s stock valued at $62,000 after acquiring an additional 3,489 shares in the last quarter. Covestor Ltd raised its stake in Site Centers by 61.7% during the 1st quarter. Covestor Ltd now owns 6,072 shares of the company’s stock valued at $78,000 after acquiring an additional 2,316 shares in the last quarter. Strs Ohio bought a new stake in Site Centers during the 1st quarter valued at $114,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Site Centers during the 2nd quarter valued at $154,000. Institutional investors own 88.70% of the company’s stock.

Site Centers Stock Up 1.0%

Shares of SITC stock opened at $7.40 on Wednesday. Site Centers Corp. has a 1 year low of $7.16 and a 1 year high of $16.51. The stock has a market cap of $387.83 million, a PE ratio of 1.09 and a beta of 1.39. The business’s fifty day moving average is $9.00 and its 200-day moving average is $10.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74.

Site Centers (NYSE:SITC) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Site Centers had a return on equity of 36.67% and a net margin of 189.28%.The company had revenue of $30.66 million for the quarter, compared to analysts’ expectations of $33.10 million. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was down 63.8% on a year-over-year basis. Equities analysts expect that Site Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Site Centers Dividend Announcement

The business also recently announced a special dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $1.00 dividend. The ex-dividend date is Friday, October 31st. Site Centers’s payout ratio is presently 7.69%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SITC shares. Piper Sandler set a $12.00 target price on Site Centers and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. LADENBURG THALM/SH SH started coverage on Site Centers in a research report on Tuesday, September 9th. They set a “neutral” rating and a $10.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Site Centers in a research report on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.13.

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.