Aristides Capital LLC Invests $205,000 in SITE Centers Corp. (NYSE:SITC)

Aristides Capital LLC bought a new position in shares of SITE Centers Corp. (NYSE:SITC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,400 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds have also added to or reduced their stakes in the company. KBC Group NV boosted its holdings in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after purchasing an additional 2,193 shares during the period. Vestcor Inc bought a new stake in shares of SITE Centers during the 3rd quarter valued at approximately $95,000. Van ECK Associates Corp increased its position in SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock worth $138,000 after purchasing an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in SITE Centers in the 4th quarter valued at approximately $148,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in SITE Centers in the fourth quarter valued at approximately $163,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on SITC shares. Piper Sandler lowered their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their target price on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Citigroup dropped their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.25.

SITE Centers Stock Down 3.3 %

SITE Centers stock opened at $11.69 on Monday. The firm has a 50 day moving average price of $13.83 and a two-hundred day moving average price of $17.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers Corp. has a 52-week low of $11.56 and a 52-week high of $64.44. The firm has a market cap of $612.64 million, a price-to-earnings ratio of 0.85 and a beta of 1.30.

SITE Centers (NYSE:SITC) last announced its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. Equities analysts predict 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.