Jefferies Financial Group Inc. Grows Stake in Site Centers Corp. $SITC

Jefferies Financial Group Inc. increased its stake in shares of Site Centers Corp. (NYSE:SITC) by 771.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,354,196 shares of the company’s stock after purchasing an additional 1,198,725 shares during the period. Jefferies Financial Group Inc. owned 2.58% of Site Centers worth $12,201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Site Centers by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 649,183 shares of the company’s stock valued at $5,849,000 after acquiring an additional 8,886 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of 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 in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Site Centers in the third quarter worth approximately $110,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of 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 last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Site Centers Price Performance

Shares of Site Centers stock opened at $6.13 on Monday. The stock’s 50 day simple moving average is $6.35 and its 200-day simple moving average is $7.61. The stock has a market cap of $321.59 million, a P/E ratio of 1.82 and a beta of 1.06. Site Centers Corp. has a 1-year low of $5.92 and a 1-year high of $13.46.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on SITC. Piper Sandler downgraded Site Centers from an “overweight” rating to a “neutral” rating in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $10.83.

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.