CWA Asset Management Group LLC Raises Stock Holdings in Site Centers Corp. (NYSE:SITC)

CWA Asset Management Group LLC raised its position in Site Centers Corp. (NYSE:SITC) by 35.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,521 shares of the company’s stock after buying an additional 13,905 shares during the quarter. CWA Asset Management Group LLC owned approximately 0.10% of Site Centers worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in Site Centers by 483.2% in the fourth quarter. Covestor Ltd now owns 3,756 shares of the company’s stock worth $57,000 after acquiring an additional 3,112 shares in the last quarter. GAMMA Investing LLC raised its position in Site Centers by 1,223.2% in the first quarter. GAMMA Investing LLC now owns 8,230 shares of the company’s stock worth $106,000 after acquiring an additional 7,608 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Site Centers by 10.2% in the fourth 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Site Centers in the fourth quarter valued at $148,000. Finally, Rangeley Capital LLC purchased a new position in shares of Site Centers in the fourth quarter valued at $186,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SITC. Piper Sandler decreased their price objective on Site Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Finally, Wells Fargo & Company decreased their price objective on Site Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Site Centers has a consensus rating of “Hold” and an average target price of $35.25.

Site Centers Price Performance

NYSE:SITC opened at $12.48 on Friday. The business’s 50-day moving average price is $11.95 and its 200 day moving average price is $13.43. The firm has a market cap of $654.19 million, a P/E ratio of 1.21 and a beta of 1.32. 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 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Site Centers had a net margin of 201.78% and a return on equity of 39.38%. The company had revenue of $40.35 million during the quarter, compared to analyst estimates of $33.50 million. During the same quarter last year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 66.6% compared to the same quarter last year. 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 Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $1.50 per share.

Site Centers Company 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.