Meeder Asset Management Inc. Increases Stake in SITE Centers Corp. (NYSE:SITC)

Meeder Asset Management Inc. lifted its stake in SITE Centers Corp. (NYSE:SITC) by 5.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 45,105 shares of the company’s stock after buying an additional 2,199 shares during the quarter. Meeder Asset Management Inc.’s holdings in SITE Centers were worth $690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SITC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in SITE Centers by 19.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after buying an additional 53,412 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of SITE Centers in the third quarter valued at $244,000. Systematic Financial Management LP bought a new stake in SITE Centers in the third quarter worth $203,000. Soros Fund Management LLC purchased a new stake in SITE Centers during the third quarter valued at $3,025,000. Finally, Jane Street Group LLC lifted its position in SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after purchasing an additional 5,779 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Performance

Shares of SITE Centers stock opened at $12.87 on Tuesday. 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 stock’s fifty day moving average is $14.07 and its two-hundred day moving average is $18.96. SITE Centers Corp. has a 52 week low of $12.47 and a 52 week high of $64.44. The company has a market capitalization of $674.51 million, a PE ratio of 0.94 and a beta of 1.63.

SITE Centers (NYSE:SITC) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $32.87 million during the quarter, compared to the consensus estimate of $43.58 million. As a group, analysts expect that SITE Centers Corp. will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on SITC shares. Citigroup decreased their target price on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Piper Sandler lowered their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company cut their target price on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, StockNews.com downgraded SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SITE Centers presently has an average rating of “Hold” and an average price target of $35.25.

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.