Advisor Group Holdings Inc. boosted its stake in SITE Centers Corp. (NASDAQ:SITC) by 357.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,080 shares of the company’s stock after purchasing an additional 12,567 shares during the quarter. Advisor Group Holdings Inc.’s holdings in SITE Centers were worth $130,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. First Republic Investment Management Inc. acquired a new stake in shares of SITE Centers during the 2nd quarter worth $144,000. Athanor Capital LP purchased a new stake in shares of SITE Centers in the second quarter worth about $127,000. Bank of Montreal Can lifted its position in SITE Centers by 3.7% during the 2nd quarter. Bank of Montreal Can now owns 473,422 shares of the company’s stock worth $3,447,000 after acquiring an additional 16,952 shares in the last quarter. American International Group Inc. lifted its position in shares of SITE Centers by 4,320.8% during the second quarter. American International Group Inc. now owns 107,912 shares of the company’s stock worth $874,000 after purchasing an additional 105,471 shares in the last quarter. Finally, Cbre Clarion Securities LLC boosted its stake in shares of SITE Centers by 16.1% in the second quarter. Cbre Clarion Securities LLC now owns 1,475,818 shares of the company’s stock valued at $11,954,000 after purchasing an additional 204,355 shares during the period.
Shares of NASDAQ:SITC traded down $0.13 during trading on Friday, reaching $7.70. The company had a trading volume of 965,138 shares, compared to its average volume of 2,389,026. SITE Centers Corp. has a twelve month low of $3.60 and a twelve month high of $15.85. The firm’s fifty day moving average is $7.63 and its 200 day moving average is $6.88.
SITE Centers (NASDAQ:SITC) last released its earnings results on Tuesday, July 28th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.25). The business had revenue of $98.10 million during the quarter, compared to analysts’ expectations of $98.65 million. SITE Centers’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS.
A number of equities analysts have weighed in on SITC shares. Morgan Stanley upped their price objective on shares of SITE Centers from $5.75 to $8.20 and gave the company an “equal weight” rating in a research report on Monday, September 14th. SunTrust Banks lifted their price objective on SITE Centers from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Monday, June 15th. Citigroup raised their price objective on shares of SITE Centers from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Finally, BidaskClub cut shares of SITE Centers from a “hold” rating to a “sell” rating in a research report on Thursday, September 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $10.02.
About SITE Centers
SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.
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