Russell Investments Group Ltd. grew its stake in shares of SITE Centers Corp. (NASDAQ:SITC) by 63.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,874,270 shares of the company’s stock after buying an additional 731,067 shares during the period. Russell Investments Group Ltd. owned 1.04% of SITE Centers worth $28,329,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of SITC. Citadel Advisors LLC lifted its position in shares of SITE Centers by 257.6% during the 2nd quarter. Citadel Advisors LLC now owns 1,677,011 shares of the company’s stock valued at $22,203,000 after buying an additional 1,208,067 shares in the last quarter. Janus Henderson Group PLC purchased a new position in SITE Centers in the 2nd quarter worth approximately $12,491,000. Marshall Wace North America L.P. purchased a new position in SITE Centers in the 2nd quarter worth approximately $4,742,000. Great Lakes Advisors LLC purchased a new position in SITE Centers in the 2nd quarter worth approximately $4,727,000. Finally, Hill Winds Capital LP purchased a new position in SITE Centers in the 2nd quarter worth approximately $3,575,000.
A number of research analysts recently commented on SITC shares. Compass Point started coverage on SITE Centers in a report on Thursday, August 15th. They issued a “neutral” rating and a $14.00 price target on the stock. Mizuho cut SITE Centers from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Friday, September 13th. Finally, Zacks Investment Research raised SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. SITE Centers presently has an average rating of “Buy” and a consensus price target of $14.67.
NASDAQ SITC opened at $14.96 on Friday. The stock’s 50 day moving average is $15.10 and its 200 day moving average is $13.97. SITE Centers Corp. has a 12 month low of $10.71 and a 12 month high of $15.85.
SITE Centers (NASDAQ:SITC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.22). The company had revenue of $109.70 million during the quarter, compared to the consensus estimate of $111.73 million. The company’s quarterly revenue was down 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share.
About SITE Centers
SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.
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