DGS Capital Management LLC Grows Stake in Site Centers Corp. $SITC

DGS Capital Management LLC lifted its position in Site Centers Corp. (NYSE:SITC) by 1,648.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 390,310 shares of the company’s stock after purchasing an additional 367,988 shares during the quarter. DGS Capital Management LLC’s holdings in Site Centers were worth $2,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rush Island Management LP boosted its stake in 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 buying an additional 659,269 shares during the period. Cohen & Steers Inc. increased its stake in Site Centers by 129.8% in the 4th quarter. Cohen & Steers Inc. now owns 2,678,505 shares of the company’s stock worth $17,196,000 after acquiring an additional 1,512,817 shares during the last quarter. SG Americas Securities LLC increased its stake in Site Centers by 176.0% in the 1st quarter. SG Americas Securities LLC now owns 2,262,491 shares of the company’s stock worth $12,217,000 after acquiring an additional 1,442,755 shares during the last quarter. Gumshoe Capital Management LLC purchased a new stake in shares of Site Centers in the 4th quarter valued at about $14,278,000. Finally, Nuveen LLC raised its holdings in shares of Site Centers by 32.4% in the 4th quarter. Nuveen LLC now owns 1,995,706 shares of the company’s stock valued at $12,812,000 after acquiring an additional 488,463 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SITC shares. Wall Street Zen lowered Site Centers from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research note on Wednesday, June 24th. Finally, Piper Sandler lifted their target price on shares of Site Centers from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $8.00.

Site Centers Stock Performance

Shares of NYSE:SITC opened at $4.50 on Monday. Site Centers Corp. has a 52-week low of $3.91 and a 52-week high of $12.39. The firm has a fifty day moving average of $5.09 and a 200 day moving average of $5.71. The firm has a market capitalization of $236.38 million, a PE ratio of 1.36 and a beta of 1.00.

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, beating analysts’ consensus estimates of ($0.11) by $0.13. Site Centers had a return on equity of 47.95% and a net margin of 212.95%.The business had revenue of $13.02 million for the quarter, compared to the consensus estimate of $10.20 million.

Site Centers Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $1.00 per share.

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.