Public Employees Retirement System of Ohio Invests $744,000 in Site Centers Corp. $SITC

Public Employees Retirement System of Ohio bought a new position in Site Centers Corp. (NYSE:SITC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 187,339 shares of the company’s stock, valued at approximately $744,000. Public Employees Retirement System of Ohio owned approximately 0.36% of Site Centers as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Site Centers by 11.5% during the first quarter. Royal Bank of Canada now owns 139,626 shares of the company’s stock valued at $1,793,000 after purchasing an additional 14,395 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Site Centers by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company’s stock worth $362,000 after purchasing an additional 1,185 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Site Centers by 88.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company’s stock worth $9,313,000 after purchasing an additional 340,452 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Site Centers in the 1st quarter worth about $4,023,000. Finally, Strs Ohio bought a new position in shares of Site Centers during the 1st quarter valued at about $114,000. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SITC. Zacks Research cut Site Centers from a “hold” rating to a “strong sell” rating in a report on Thursday, August 20th. Wall Street Zen upgraded shares of Site Centers from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler reduced their price target on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Site Centers has a consensus rating of “Sell” and an average target price of $3.50.

Site Centers Price Performance

SITC opened at $2.81 on Thursday. The stock’s 50 day simple moving average is $3.60 and its 200 day simple moving average is $4.77. The firm has a market cap of $147.70 million, a price-to-earnings ratio of 1.17 and a beta of 0.98. Site Centers Corp. has a 1 year low of $2.81 and a 1 year high of $9.09.

Site Centers (NYSE:SITC) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.08. The firm had revenue of $6.85 million during the quarter, compared to the consensus estimate of $8.20 million. Site Centers had a return on equity of 40.56% and a net margin of 219.18%. As a group, sell-side analysts anticipate that Site Centers Corp. will post -0.29 EPS for the current year.

Site Centers Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a dividend of $1.00 per share.

Site Centers 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.