187,339 Shares in Site Centers Corp. $SITC Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in shares of Site Centers Corp. (NYSE:SITC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 187,339 shares of the company’s stock, valued at approximately $744,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SITC. Bessemer Group Inc. increased its stake in shares of Site Centers by 315,970.1% during the first quarter. Bessemer Group Inc. now owns 635,301 shares of the company’s stock valued at $3,431,000 after buying an additional 635,100 shares during the period. Rush Island Management LP lifted its stake in Site Centers by 11.4% in the first quarter. Rush Island Management LP now owns 4,445,666 shares of the company’s stock worth $24,007,000 after acquiring an additional 456,032 shares during the period. Kore Advisors LP purchased a new stake in Site Centers in the first quarter worth $4,304,000. BlackRock Inc. purchased a new stake in Site Centers in the second quarter worth $20,004,000. Finally, Jefferies Financial Group Inc. boosted its holdings in Site Centers by 34.3% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,819,088 shares of the company’s stock valued at $11,679,000 after acquiring an additional 464,892 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Site Centers Stock Performance

Shares of NYSE:SITC opened at $2.81 on Thursday. The firm has a market capitalization of $147.70 million, a P/E ratio of 1.17 and a beta of 0.98. The stock has a 50 day moving average price of $3.60 and a 200-day moving average price of $4.77. Site Centers Corp. has a 52-week low of $2.81 and a 52-week high of $9.09.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.08. The company had revenue of $6.85 million for the quarter, compared to analyst estimates of $8.20 million. Site Centers had a return on equity of 40.56% and a net margin of 219.18%. On average, equities analysts forecast that Site Centers Corp. will post -0.29 EPS for the current fiscal year.

Site Centers Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $1.00 dividend.

Wall Street Analyst Weigh In

SITC has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler dropped their target price on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Zacks Research lowered shares of Site Centers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Sell” and an average target price of $3.50.

About Site Centers

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.