UBS Group AG Sells 376,506 Shares of Site Centers Corp. $SITC

UBS Group AG decreased its holdings in shares of Site Centers Corp. (NYSE:SITC) by 52.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,456 shares of the company’s stock after selling 376,506 shares during the period. UBS Group AG owned 0.65% of Site Centers worth $2,179,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SITC. Royal Bank of Canada boosted its holdings in Site Centers by 11.5% in the first quarter. Royal Bank of Canada now owns 139,626 shares of the company’s stock worth $1,793,000 after acquiring an additional 14,395 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Site Centers by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company’s stock worth $362,000 after acquiring an additional 1,185 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Site Centers by 88.5% in the first quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company’s stock worth $9,313,000 after acquiring an additional 340,452 shares in the last quarter. Jane Street Group LLC bought a new position in Site Centers in the first quarter worth approximately $4,023,000. Finally, Strs Ohio bought a new position in Site Centers in the first quarter worth approximately $114,000. Institutional investors own 88.70% of the company’s stock.

Site Centers Stock Down 1.4%

Shares of Site Centers stock opened at $5.22 on Thursday. The company has a market cap of $273.63 million, a PE ratio of 1.57 and a beta of 1.01. Site Centers Corp. has a 52 week low of $5.18 and a 52 week high of $13.10. The business has a 50 day moving average price of $5.44 and a 200-day moving average price of $6.17.

Site Centers (NYSE:SITC) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.13. The firm had revenue of $13.02 million during the quarter, compared to the consensus estimate of $10.20 million. Site Centers had a return on equity of 47.95% and a net margin of 212.95%.

Wall Street Analyst Weigh In

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

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.