SITE Centers Corp. (NYSE:SITC) Stake Lessened by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. decreased its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 73.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,325 shares of the company’s stock after selling 164,575 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in SITE Centers were worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in SITE Centers during the 2nd quarter valued at about $42,000. Quarry LP boosted its holdings in shares of SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after purchasing an additional 2,857 shares during the period. Diversified Trust Co purchased a new position in SITE Centers during the second quarter valued at approximately $152,000. Evergreen Capital Management LLC acquired a new position in SITE Centers in the 2nd quarter valued at approximately $167,000. Finally, Systematic Financial Management LP purchased a new stake in SITE Centers in the 3rd quarter worth approximately $203,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Truist Financial boosted their target price on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Citigroup cut their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Finally, Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.04.

SITE Centers Stock Up 0.2 %

SITC opened at $15.61 on Friday. The firm has a market cap of $818.17 million, a P/E ratio of 1.14 and a beta of 1.61. 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 business has a 50 day moving average price of $16.24 and a 200 day moving average price of $116.37. SITE Centers Corp. has a twelve month low of $15.24 and a twelve month high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 EPS. Research analysts forecast that SITE Centers Corp. will post 3.36 EPS for the current year.

Insider Buying and Selling at SITE Centers

In other SITE Centers news, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at $2,093,163.12. The trade was a 55.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 10.10% of the company’s stock.

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.