New York State Teachers Retirement System Has $1.52 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

New York State Teachers Retirement System boosted its stake in shares of SITE Centers Corp. (NYSE:SITC) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,329 shares of the company’s stock after purchasing an additional 2,499 shares during the quarter. New York State Teachers Retirement System owned 0.05% of SITE Centers worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SITC. FMR LLC grew its holdings in shares of SITE Centers by 21.6% during the 3rd quarter. FMR LLC now owns 16,126,938 shares of the company’s stock worth $198,845,000 after purchasing an additional 2,861,012 shares in the last quarter. Norges Bank acquired a new stake in SITE Centers during the fourth quarter worth $35,855,000. JPMorgan Chase & Co. increased its holdings in SITE Centers by 14.1% in the 1st quarter. JPMorgan Chase & Co. now owns 11,031,687 shares of the company’s stock valued at $135,469,000 after buying an additional 1,361,282 shares during the period. Alyeska Investment Group L.P. bought a new stake in SITE Centers in the 1st quarter valued at $16,570,000. Finally, State Street Corp raised its stake in shares of SITE Centers by 12.9% in the 1st quarter. State Street Corp now owns 10,803,754 shares of the company’s stock valued at $181,908,000 after buying an additional 1,234,412 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

SITE Centers Price Performance

Shares of SITE Centers stock opened at $13.43 on Thursday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 11.10 and a beta of 1.58. The firm’s 50-day moving average price is $14.03 and its two-hundred day moving average price is $13.38. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.81. SITE Centers Corp. has a 1-year low of $10.88 and a 1-year high of $14.71.

SITE Centers (NYSE:SITC) last announced its earnings results on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.26 by $0.66. SITE Centers had a return on equity of 14.00% and a net margin of 49.25%. The business had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. During the same period in the previous year, the business earned $0.29 EPS. SITE Centers’s revenue was down 9.7% compared to the same quarter last year. On average, equities analysts predict that SITE Centers Corp. will post 0.94 earnings per share for the current fiscal year.

SITE Centers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 14th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.87%. SITE Centers’s dividend payout ratio (DPR) is presently 42.98%.

Analysts Set New Price Targets

SITC has been the topic of several recent research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $15.50 target price on shares of SITE Centers in a research report on Monday, April 1st. Wolfe Research lowered SITE Centers from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 5th. Finally, Piper Sandler cut their target price on SITE Centers from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.25.

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.