Prudential Financial Inc. lowered its holdings in SITE Centers Corp. (NASDAQ:SITC) by 48.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453,959 shares of the company’s stock after selling 435,268 shares during the period. Prudential Financial Inc. owned about 0.25% of SITE Centers worth $6,010,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Great Lakes Advisors LLC bought a new position in SITE Centers in the second quarter worth about $4,727,000. State of Alaska Department of Revenue lifted its holdings in SITE Centers by 6.4% in the second quarter. State of Alaska Department of Revenue now owns 71,113 shares of the company’s stock worth $939,000 after acquiring an additional 4,278 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in SITE Centers by 4.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 239,999 shares of the company’s stock worth $3,177,000 after acquiring an additional 10,000 shares during the last quarter. Hill Winds Capital LP bought a new position in SITE Centers in the second quarter worth about $3,575,000. Finally, Chicago Equity Partners LLC bought a new position in SITE Centers in the second quarter worth about $132,000.
Separately, Compass Point began coverage on shares of SITE Centers in a report on Thursday, August 15th. They issued a “neutral” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.
SITE Centers (NASDAQ:SITC) last issued its earnings results on Monday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.23). The business had revenue of $113.50 million for the quarter, compared to analysts’ expectations of $113.12 million. The company’s revenue was down 44.4% on a year-over-year basis.
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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