SG Americas Securities LLC Boosts Holdings in Site Centers Corp. $SITC

SG Americas Securities LLC increased its position in Site Centers Corp. (NYSE:SITC) by 176.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,262,491 shares of the company’s stock after purchasing an additional 1,442,755 shares during the period. SG Americas Securities LLC owned approximately 4.31% of Site Centers worth $12,217,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SITC. Aristides Capital LLC purchased a new position in Site Centers in the fourth quarter worth about $204,000. DGS Capital Management LLC purchased a new stake in shares of Site Centers during the fourth quarter valued at approximately $143,000. Mercer Global Advisors Inc. ADV increased its position in shares of Site Centers by 65.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,619 shares of the company’s stock valued at $190,000 after acquiring an additional 11,680 shares in the last quarter. Rush Island Management LP increased its position in shares of Site Centers by 19.8% during the fourth quarter. Rush Island Management LP now owns 3,989,634 shares of the company’s stock valued at $25,613,000 after acquiring an additional 659,269 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Site Centers by 2,101.6% in the 4th quarter. Millennium Management LLC now owns 1,257,419 shares of the company’s stock worth $8,073,000 after acquiring an additional 1,200,306 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SITC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research report on Wednesday. Piper Sandler lifted their target price on Site Centers from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen cut Site Centers from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $8.00.

Site Centers Stock Down 1.2%

Shares of SITC stock opened at $4.54 on Friday. The company has a 50 day moving average price of $5.21 and a 200-day moving average price of $5.82. Site Centers Corp. has a 52 week low of $4.51 and a 52 week high of $13.10. The firm has a market capitalization of $237.95 million, a PE ratio of 1.37 and a beta of 0.97.

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

Site Centers Company 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.