Mackay Shields LLC decreased its holdings in shares of SITE Centers Corp. (NASDAQ:SITC) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,356 shares of the company’s stock after selling 15,754 shares during the period. Mackay Shields LLC owned approximately 0.16% of SITE Centers worth $4,342,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SITC. Citadel Advisors LLC increased its position in SITE Centers by 257.6% during the 2nd quarter. Citadel Advisors LLC now owns 1,677,011 shares of the company’s stock worth $22,203,000 after purchasing an additional 1,208,067 shares during the period. Janus Henderson Group PLC acquired a new position in SITE Centers during the 2nd quarter worth approximately $12,491,000. Russell Investments Group Ltd. increased its position in SITE Centers by 63.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,874,270 shares of the company’s stock worth $28,329,000 after purchasing an additional 731,067 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of SITE Centers in the 2nd quarter worth approximately $4,742,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of SITE Centers in the 2nd quarter worth approximately $4,727,000.
Shares of SITC traded down $0.19 on Friday, reaching $14.77. The stock had a trading volume of 635,100 shares, compared to its average volume of 1,054,765. The firm has a 50-day moving average of $15.10 and a 200 day moving average of $13.98. SITE Centers Corp. has a twelve month low of $10.71 and a twelve month high of $15.85.
SITE Centers (NASDAQ:SITC) last issued its earnings results on Wednesday, October 30th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.22). The company had revenue of $109.70 million during the quarter, compared to analyst estimates of $111.73 million. The company’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share.
SITC has been the topic of a number of research reports. 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. Compass Point initiated 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. Finally, Zacks Investment Research upgraded 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $14.67.
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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