Fisher Asset Management LLC Sells 182,310 Shares of Site Centers Corp. $SITC

Fisher Asset Management LLC decreased its holdings in shares of Site Centers Corp. (NYSE:SITC) by 62.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,813 shares of the company’s stock after selling 182,310 shares during the quarter. Fisher Asset Management LLC’s holdings in Site Centers were worth $1,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Conversant Capital LLC lifted its position in Site Centers by 506.4% during the 1st quarter. Conversant Capital LLC now owns 1,940,579 shares of the company’s stock worth $24,917,000 after buying an additional 1,620,579 shares in the last quarter. Irenic Capital Management LP bought a new stake in Site Centers during the first quarter worth about $18,911,000. Nuveen LLC bought a new stake in Site Centers during the first quarter worth about $6,360,000. Caxton Associates LLP acquired a new position in Site Centers during the first quarter valued at approximately $5,037,000. Finally, Prudential Financial Inc. grew its stake in Site Centers by 216.7% in the second quarter. Prudential Financial Inc. now owns 542,391 shares of the company’s stock valued at $6,134,000 after purchasing an additional 371,146 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SITC has been the topic of a number of analyst reports. Wall Street Zen cut Site Centers from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler dropped their price target on shares of Site Centers from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. LADENBURG THALM/SH SH started coverage on shares of Site Centers in a research note on Tuesday, September 9th. They issued a “neutral” rating and a $10.00 price target for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a research note on Monday. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.63.

Site Centers Price Performance

Site Centers stock opened at $7.30 on Friday. The company has a market capitalization of $382.70 million, a price-to-earnings ratio of 13.03 and a beta of 1.09. The stock’s 50 day moving average is $7.92 and its 200-day moving average is $10.03. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. Site Centers Corp. has a 12 month low of $6.76 and a 12 month high of $15.93.

Site Centers Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, December 15th.

About Site Centers

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.