Signature Estate & Investment Advisors LLC Sells 12,789 Shares of SITE Centers Corp. (NYSE:SITC)

Signature Estate & Investment Advisors LLC cut its position in SITE Centers Corp. (NYSE:SITC) by 74.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,314 shares of the company’s stock after selling 12,789 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in SITE Centers were worth $261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Long Pond Capital LP boosted its position in shares of SITE Centers by 403.8% during the first quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock valued at $84,885,000 after buying an additional 4,644,142 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SITE Centers by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company’s stock valued at $39,426,000 after acquiring an additional 31,529 shares during the last quarter. APG Asset Management US Inc. grew its stake in shares of SITE Centers by 145.0% in the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock worth $12,996,000 after acquiring an additional 535,550 shares during the period. Renaissance Technologies LLC raised its holdings in shares of SITE Centers by 6.8% during the second quarter. Renaissance Technologies LLC now owns 882,336 shares of the company’s stock valued at $12,794,000 after purchasing an additional 56,013 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in SITE Centers by 3,017.5% during the second quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock valued at $11,081,000 after purchasing an additional 739,174 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Stifel Nicolaus upped their price objective on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Evercore ISI raised SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on shares of SITE Centers in a research note on Monday. They issued a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.89.

SITE Centers Price Performance

NYSE SITC opened at $15.70 on Tuesday. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a 12 month low of $15.43 and a 12 month high of $64.44. The stock has a market cap of $823.15 million, a price-to-earnings ratio of 1.15 and a beta of 1.62. The company’s 50 day moving average is $29.41 and its two-hundred day moving average is $142.90.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The firm had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company’s revenue for the quarter was down 37.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 earnings per share. As a group, research analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share 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.