Factorial Partners LLC Invests $1.68 Million in SITE Centers Corp. (NYSE:SITC)

Factorial Partners LLC purchased a new position in SITE Centers Corp. (NYSE:SITC) during the fourth quarter, Holdings Channel reports. The fund purchased 110,000 shares of the company’s stock, valued at approximately $1,682,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vestcor Inc bought a new stake in SITE Centers in the third quarter worth about $95,000. Neo Ivy Capital Management purchased a new position in SITE Centers in the third quarter valued at approximately $202,000. Systematic Financial Management LP purchased a new position in SITE Centers in the third quarter valued at approximately $203,000. KBC Group NV grew its holdings in SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after purchasing an additional 2,193 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in SITE Centers in the third quarter worth $244,000. Institutional investors own 88.70% of the company’s stock.

Insider Activity at SITE Centers

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the transaction, the director now owns 29,082 shares of the company’s stock, valued at $451,934.28. The trade was a 11.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the sale, the chief executive officer now owns 136,008 shares in the company, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,457 shares of company stock valued at $2,791,693. Company insiders own 10.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup dropped their price target on 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 dropped their price objective on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday. StockNews.com upgraded shares of SITE Centers from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Seven 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, the company presently has an average rating of “Hold” and a consensus target price of $35.61.

SITE Centers Price Performance

SITC stock opened at $14.01 on Friday. The firm has a 50 day moving average of $15.00 and a 200-day moving average of $31.48. The firm has a market capitalization of $734.28 million, a P/E ratio of 1.02 and a beta of 1.60. SITE Centers Corp. has a 12 month low of $13.30 and a 12 month high of $32.22. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

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

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.