Jefferies Financial Group Inc. Raises Stock Position in Site Centers Corp. $SITC

Jefferies Financial Group Inc. raised its position in Site Centers Corp. (NYSE:SITC) by 771.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,354,196 shares of the company’s stock after acquiring an additional 1,198,725 shares during the period. Jefferies Financial Group Inc.’s holdings in Site Centers were worth $12,201,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. First Trust Advisors LP increased its holdings in shares of Site Centers by 10.5% during the 3rd quarter. First Trust Advisors LP now owns 18,275 shares of the company’s stock worth $165,000 after buying an additional 1,739 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Site Centers by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 649,183 shares of the company’s stock valued at $5,849,000 after buying an additional 8,886 shares during the period. Intech Investment Management LLC lifted its holdings in Site Centers by 33.6% in the third quarter. Intech Investment Management LLC now owns 168,874 shares of the company’s stock valued at $1,522,000 after acquiring an additional 42,505 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Site Centers in the third quarter worth approximately $110,000. Finally, JPMorgan Chase & Co. grew its position in Site Centers by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 561,110 shares of the company’s stock worth $5,056,000 after acquiring an additional 88,398 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Site Centers Stock Performance

Shares of SITC stock opened at $6.13 on Monday. The firm has a market cap of $321.59 million, a P/E ratio of 1.82 and a beta of 1.06. The firm’s 50 day moving average price is $6.35 and its 200-day moving average price is $7.61. Site Centers Corp. has a one year low of $5.92 and a one year high of $13.46.

Site Centers (NYSE:SITC) last posted its earnings results on Thursday, February 26th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $2.79. The firm had revenue of $17.51 million during the quarter, compared to the consensus estimate of $22.39 million. Site Centers had a net margin of 156.72% and a return on equity of 43.13%. As a group, research analysts predict that Site Centers Corp. will post 3.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SITC shares. Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a report on Monday, December 29th. Finally, Piper Sandler downgraded Site Centers from an “overweight” rating to a “neutral” rating in a research report on Friday, February 27th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $10.83.

Site Centers Company Profile

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.