Site Centers Corp. $SITC Shares Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. grew its holdings in shares of Site Centers Corp. (NYSE:SITC) by 34.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,819,088 shares of the company’s stock after purchasing an additional 464,892 shares during the period. Jefferies Financial Group Inc. owned approximately 3.47% of Site Centers worth $11,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its position in Site Centers by 7.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,778 shares of the company’s stock worth $190,000 after purchasing an additional 1,092 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Site Centers by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company’s stock worth $362,000 after purchasing an additional 1,185 shares during the period. State of Tennessee Department of Treasury increased its position in Site Centers by 6.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 20,253 shares of the company’s stock worth $229,000 after purchasing an additional 1,274 shares during the period. Creative Planning increased its position in Site Centers by 8.8% during the 2nd quarter. Creative Planning now owns 18,472 shares of the company’s stock worth $209,000 after purchasing an additional 1,495 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in Site Centers by 11.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,788 shares of the company’s stock worth $144,000 after purchasing an additional 1,670 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SITC shares. Piper Sandler boosted their target price on Site Centers from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a research report on Friday, March 27th. Finally, Wall Street Zen cut Site Centers from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $8.00.

Site Centers Price Performance

SITC opened at $5.37 on Monday. The stock has a market cap of $281.50 million, a P/E ratio of 1.62 and a beta of 1.01. The stock’s 50 day simple moving average is $5.47 and its 200 day simple moving average is $6.21. Site Centers Corp. has a 1-year low of $5.24 and a 1-year high of $13.10.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.13. The business had revenue of $13.02 million for the quarter, compared to analysts’ expectations of $10.20 million. Site Centers had a return on equity of 47.95% and a net margin of 212.95%.

Site Centers Profile

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.