Hill Winds Capital LP decreased its holdings in shares of SITE Centers Corp. (NASDAQ:SITC) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 412,000 shares of the company’s stock after selling 88,000 shares during the quarter. SITE Centers makes up about 3.9% of Hill Winds Capital LP’s investment portfolio, making the stock its 14th biggest holding. Hill Winds Capital LP owned 0.21% of SITE Centers worth $5,776,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in SITE Centers by 13.4% in the fourth quarter. Principal Financial Group Inc. now owns 15,481 shares of the company’s stock valued at $217,000 after purchasing an additional 1,832 shares in the last quarter. Huntington National Bank acquired a new stake in shares of SITE Centers in the 4th quarter valued at approximately $26,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of SITE Centers by 7.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,748 shares of the company’s stock valued at $418,000 after buying an additional 2,160 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in shares of SITE Centers by 14.0% in the third quarter. Pictet Asset Management Ltd. now owns 30,100 shares of the company’s stock valued at $455,000 after buying an additional 3,700 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd grew its stake in shares of SITE Centers by 33.2% in the third quarter. Redpoint Investment Management Pty Ltd now owns 15,447 shares of the company’s stock valued at $233,000 after buying an additional 3,847 shares in the last quarter.
SITC has been the topic of several analyst reports. Stifel Nicolaus raised shares of SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, November 21st. Compass Point downgraded shares of SITE Centers from a “neutral” rating to a “sell” rating and set a $13.50 price objective for the company. in a research report on Monday, November 25th. Morgan Stanley upgraded shares of SITE Centers from an “equal” rating to an “equal weight” rating and boosted their price objective for the stock from $13.50 to $16.00 in a research note on Tuesday, December 17th. BidaskClub upgraded shares of SITE Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Citigroup upped their target price on shares of SITE Centers from $13.50 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $15.00.
SITE Centers (NASDAQ:SITC) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.23). The company had revenue of $111.79 million during the quarter, compared to analyst estimates of $111.53 million. During the same quarter in the previous year, the business posted $0.31 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Tuesday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.90%. The ex-dividend date is Monday, March 9th.
SITE Centers Profile
SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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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