Caxton Associates LP Buys New Shares in SITE Centers Corp. (NYSE:SITC)

Caxton Associates LP purchased a new position in SITE Centers Corp. (NYSE:SITC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 271,443 shares of the company’s stock, valued at approximately $4,150,000. Caxton Associates LP owned about 0.52% of SITE Centers at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after acquiring an additional 2,193 shares during the period. Covestor Ltd boosted its holdings in shares of SITE Centers by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after purchasing an additional 3,112 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after buying an additional 833 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of SITE Centers during the 4th quarter valued at $148,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of SITE Centers during the 4th quarter worth $163,000. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Stock Up 0.4 %

Shares of NYSE:SITC opened at $11.97 on Monday. The company has a market capitalization of $627.77 million, a price-to-earnings ratio of 0.88 and a beta of 1.32. The company has a 50 day moving average of $12.40 and a two-hundred day moving average of $14.41. SITE Centers Corp. has a 52-week low of $10.46 and a 52-week high of $64.44. 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 (NYSE:SITC) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The firm had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. As a group, analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SITC. Wells Fargo & Company reduced their target price on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Piper Sandler cut their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and two have issued 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 $35.25.

SITE Centers 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.