Stevens Capital Management LP Has $487,000 Stock Holdings in SITE Centers Corp. (NYSE:SITC)

Stevens Capital Management LP grew its position in SITE Centers Corp. (NYSE:SITC) by 39.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,732 shares of the company’s stock after purchasing an additional 10,053 shares during the period. Stevens Capital Management LP’s holdings in SITE Centers were worth $487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bailard Inc. lifted its position in SITE Centers by 9.1% during the 4th quarter. Bailard Inc. now owns 54,000 shares of the company’s stock worth $736,000 after buying an additional 4,500 shares in the last quarter. Wolverine Asset Management LLC increased its stake in shares of SITE Centers by 99.8% in the 4th quarter. Wolverine Asset Management LLC now owns 82,340 shares of the company’s stock valued at $1,122,000 after acquiring an additional 41,126 shares during the last quarter. GAMMA Investing LLC acquired a new stake in SITE Centers during the 4th quarter worth approximately $30,000. Handelsbanken Fonder AB boosted its stake in SITE Centers by 19.8% in the 4th quarter. Handelsbanken Fonder AB now owns 36,880 shares of the company’s stock worth $503,000 after purchasing an additional 6,100 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of SITE Centers by 24.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,493 shares of the company’s stock worth $443,000 after buying an additional 6,480 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SITC has been the subject of a number of analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $15.50 target price on shares of SITE Centers in a research report on Monday, April 1st. Wolfe Research downgraded shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Three equities 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 currently has a consensus rating of “Hold” and an average price target of $14.25.

SITE Centers Stock Performance

NYSE:SITC traded down $0.14 during mid-day trading on Thursday, reaching $13.62. 2,255,048 shares of the company’s stock were exchanged, compared to its average volume of 2,056,609. SITE Centers Corp. has a one year low of $10.88 and a one year high of $14.71. The firm has a market capitalization of $2.85 billion, a PE ratio of 11.37 and a beta of 1.58. The business’s fifty day simple moving average is $14.00 and its two-hundred day simple moving average is $13.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.24 and a current ratio of 3.24.

SITE Centers (NYSE:SITC) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The business had revenue of $123.20 million for the quarter, compared to analyst estimates of $127.81 million. During the same period last year, the firm earned $0.29 earnings per share. SITE Centers’s revenue for the quarter was down 9.7% compared to the same quarter last year. Analysts anticipate that SITE Centers Corp. will post 0.88 earnings per share for the current fiscal year.

SITE Centers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 14th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.82%. The ex-dividend date was Wednesday, March 13th. SITE Centers’s dividend payout ratio is currently 42.98%.

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.