Mitsubishi UFJ Trust & Banking Corp cut its holdings in SITE Centers Corp. (NYSE:SITC – Free Report) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,258 shares of the company’s stock after selling 13,782 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in SITE Centers were worth $286,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of SITE Centers by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 31,084,808 shares of the company’s stock worth $332,918,000 after acquiring an additional 344,501 shares in the last quarter. State Street Corp increased its position in shares of SITE Centers by 1.4% during the 3rd quarter. State Street Corp now owns 11,633,959 shares of the company’s stock valued at $126,055,000 after purchasing an additional 163,201 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of SITE Centers by 87.0% during the 4th quarter. JPMorgan Chase & Co. now owns 9,670,405 shares of the company’s stock valued at $132,097,000 after purchasing an additional 4,499,604 shares during the last quarter. PGGM Investments increased its position in shares of SITE Centers by 37.9% during the 4th quarter. PGGM Investments now owns 7,272,691 shares of the company’s stock valued at $99,345,000 after purchasing an additional 1,998,781 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of SITE Centers by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 3,907,793 shares of the company’s stock valued at $53,380,000 after purchasing an additional 106,439 shares during the last quarter. 88.61% of the stock is owned by hedge funds and other institutional investors.
SITE Centers Stock Performance
Shares of SITE Centers stock opened at $12.86 on Friday. The stock’s fifty day moving average is $13.56 and its two-hundred day moving average is $12.82. The company has a market capitalization of $2.69 billion, a PE ratio of 26.24 and a beta of 1.56. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.97. SITE Centers Corp. has a 52 week low of $10.42 and a 52 week high of $14.63.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on SITC. StockNews.com began coverage on SITE Centers in a research report on Wednesday. They set a “hold” rating on the stock. Wells Fargo & Company began coverage on SITE Centers in a research report on Tuesday, May 23rd. They set an “equal weight” rating and a $12.50 target price on the stock. Mizuho boosted their target price on SITE Centers from $12.00 to $15.00 in a research report on Thursday, July 20th. Finally, Compass Point upped their price objective on SITE Centers from $13.00 to $14.50 in a research report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.17.
Check Out Our Latest Stock Analysis on SITE Centers
Insider Transactions at SITE Centers
In other news, CFO Conor Fennerty sold 12,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $13.26, for a total transaction of $159,120.00. Following the transaction, the chief financial officer now owns 97,364 shares of the company’s stock, valued at approximately $1,291,046.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.90% of the company’s stock.
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.
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