EntryPoint Capital LLC Acquires New Shares in SITE Centers Corp. (NYSE:SITC)

EntryPoint Capital LLC bought a new position in shares of SITE Centers Corp. (NYSE:SITC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,088 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of SITE Centers by 19.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock worth $19,612,000 after buying an additional 53,412 shares in the last quarter. Quantinno Capital Management LP bought a new stake in SITE Centers during the 3rd quarter worth $244,000. Systematic Financial Management LP acquired a new position in SITE Centers in the 3rd quarter worth about $203,000. Soros Fund Management LLC bought a new position in SITE Centers in the third quarter valued at about $3,025,000. Finally, Jane Street Group LLC boosted its stake in shares of SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after purchasing an additional 5,779 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

SITC has been the subject of several recent research reports. StockNews.com downgraded SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler decreased their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Citigroup cut their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Wells Fargo & Company decreased their price objective on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.25.

SITE Centers Price Performance

Shares of NYSE SITC opened at $12.64 on Friday. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $662.45 million, a PE ratio of 0.92 and a beta of 1.63. The firm has a fifty day simple moving average of $14.12 and a 200 day simple moving average of $19.82. SITE Centers Corp. has a twelve month low of $12.58 and a twelve month high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $32.87 million during the quarter, compared to the consensus estimate of $43.58 million. On average, sell-side analysts forecast that SITE Centers Corp. will post 3.24 EPS for the current year.

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.