Virginia Retirement Systems ET AL Reduces Stake in SITE Centers Corp. (SITC)

Virginia Retirement Systems ET AL lowered its holdings in shares of SITE Centers Corp. (NASDAQ:SITC) by 12.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 187,700 shares of the company’s stock after selling 26,500 shares during the period. Virginia Retirement Systems ET AL owned about 0.10% of SITE Centers worth $2,556,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SITC. State of Alaska Department of Revenue acquired a new position in SITE Centers in the fourth quarter valued at $732,000. Virtu Financial LLC acquired a new stake in SITE Centers during the fourth quarter worth about $140,000. Meeder Asset Management Inc. acquired a new stake in SITE Centers during the fourth quarter worth about $28,000. Nisa Investment Advisors LLC acquired a new stake in SITE Centers during the fourth quarter worth about $879,000. Finally, Bank of Montreal Can acquired a new stake in SITE Centers during the fourth quarter worth about $2,080,000.

NASDAQ:SITC traded down $0.03 on Wednesday, hitting $13.54. 652,200 shares of the stock were exchanged, compared to its average volume of 951,852. SITE Centers Corp. has a fifty-two week low of $10.71 and a fifty-two week high of $15.07.

SITE Centers (NASDAQ:SITC) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The firm had revenue of $113.69 million for the quarter, compared to analyst estimates of $117.95 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s revenue was down 45.1% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Tuesday, June 11th.

SITC has been the subject of several research analyst reports. Zacks Investment Research lowered SITE Centers from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. TheStreet upgraded SITE Centers from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Finally, Mizuho upgraded SITE Centers from a “neutral” rating to a “buy” rating and upped their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, January 23rd.

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SITE Centers Company Profile

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.

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Institutional Ownership by Quarter for SITE Centers (NASDAQ:SITC)

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