Jefferies Financial Group Inc. Boosts Stake in Site Centers Corp. $SITC

by · The Cerbat Gem

Jefferies Financial Group Inc. boosted its stake in Site Centers Corp. (NYSE:SITC – Free Report) by 34.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,819,088 shares of the company’s stock after acquiring an additional 464,892 shares during the period. Jefferies Financial Group Inc.’s holdings in Site Centers were worth $11,679,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Covestor Ltd lifted its stake in Site Centers by 95.2% in the 4th quarter. Covestor Ltd now owns 14,087 shares of the company’s stock valued at $90,000 after buying an additional 6,869 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Site Centers by 380.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,988 shares of the company’s stock valued at $45,000 after buying an additional 5,535 shares in the last quarter. Jennison Associates LLC lifted its stake in Site Centers by 71.7% in the 4th quarter. Jennison Associates LLC now owns 293,532 shares of the company’s stock valued at $1,884,000 after buying an additional 122,609 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Site Centers by 150.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 654,465 shares of the company’s stock valued at $4,202,000 after buying an additional 393,571 shares in the last quarter. Finally, CWM LLC lifted its stake in Site Centers by 62.1% in the 4th quarter. CWM LLC now owns 33,153 shares of the company’s stock valued at $213,000 after buying an additional 12,698 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Site Centers Trading Up 0.3%

Shares of SITC opened at $5.37 on Monday. The firm has a market capitalization of $281.50 million, a P/E ratio of 1.62 and a beta of 1.01. The stock’s fifty day simple moving average is $5.47 and its 200 day simple moving average is $6.21. Site Centers Corp. has a twelve month low of $5.24 and a twelve month high of $13.10.

Site Centers (NYSE:SITC – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.13. The business had revenue of $13.02 million for the quarter, compared to analyst estimates of $10.20 million. Site Centers had a return on equity of 47.95% and a net margin of 212.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SITC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research note on Friday, March 27th. Piper Sandler upped their target price on Site Centers from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen lowered Site Centers from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $8.00.

Get Our Latest Analysis on SITC

Site Centers Company Profile

(Free Report)

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.

See Also

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