EntryPoint Capital LLC Makes New Investment in SITE Centers Corp. (NYSE:SITC)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in SITC. Vanguard Group Inc. raised its stake in SITE Centers by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 7,296,037 shares of the company’s stock valued at $111,556,000 after acquiring an additional 675,190 shares during the period. Pacer Advisors Inc. bought a new position in shares of SITE Centers in the fourth quarter valued at about $34,297,000. Bank of New York Mellon Corp raised its position in shares of SITE Centers by 34.5% in the fourth quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock valued at $9,402,000 after purchasing an additional 157,818 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of SITE Centers during the 4th quarter worth about $5,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SITE Centers by 19.7% during the 3rd 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 during the period. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SITC shares. Piper Sandler cut their price objective 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 dropped their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Wells Fargo & Company decreased their price objective on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.25.

SITE Centers Stock Performance

NYSE:SITC opened at $12.64 on Friday. The company has a market cap of $662.45 million, a price-to-earnings ratio of 0.92 and a beta of 1.63. SITE Centers Corp. has a fifty-two week low of $12.58 and a fifty-two week high of $64.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The stock has a fifty day moving average price of $14.12 and a 200-day moving average price of $19.82.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The firm had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. As a group, equities analysts anticipate that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

SITE Centers 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.