Fox Run Management L.L.C. Buys New Stake in Site Centers Corp. $SITC

Fox Run Management L.L.C. bought a new position in shares of Site Centers Corp. (NYSE:SITC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 31,917 shares of the company’s stock, valued at approximately $361,000.

A number of other hedge funds also recently bought and sold shares of SITC. Conversant Capital LLC grew its position in shares of Site Centers by 506.4% in the first quarter. Conversant Capital LLC now owns 1,940,579 shares of the company’s stock valued at $24,917,000 after purchasing an additional 1,620,579 shares during the last quarter. Irenic Capital Management LP bought a new stake in Site Centers during the 1st quarter valued at approximately $18,911,000. Nuveen LLC acquired a new stake in Site Centers in the 1st quarter valued at approximately $6,360,000. Caxton Associates LLP bought a new position in Site Centers in the 1st quarter worth approximately $5,037,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Site Centers by 88.5% during the first quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company’s stock worth $9,313,000 after buying an additional 340,452 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Site Centers Trading Down 1.2%

Shares of Site Centers stock opened at $7.18 on Thursday. Site Centers Corp. has a 52-week low of $6.89 and a 52-week high of $16.34. The firm has a market capitalization of $376.41 million, a PE ratio of 1.06 and a beta of 1.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74. The company’s fifty day moving average price is $8.52 and its two-hundred day moving average price is $10.61.

Site Centers Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, October 31st. Site Centers’s dividend payout ratio is 92.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SITC shares. Wall Street Zen downgraded shares of Site Centers from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler decreased their price target on shares of Site Centers from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday. LADENBURG THALM/SH SH initiated coverage on shares of Site Centers in a report on Tuesday, September 9th. They set a “neutral” rating and a $10.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Site Centers in a research note on Thursday, October 30th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.63.

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.