Jennison Associates LLC Purchases 122,609 Shares of Site Centers Corp. $SITC

Jennison Associates LLC grew its position in Site Centers Corp. (NYSE:SITC) by 71.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 293,532 shares of the company’s stock after acquiring an additional 122,609 shares during the quarter. Jennison Associates LLC’s holdings in Site Centers were worth $1,884,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jefferies Financial Group Inc. lifted its position in shares of Site Centers by 771.0% in the 3rd quarter. Jefferies Financial Group Inc. now owns 1,354,196 shares of the company’s stock worth $12,201,000 after acquiring an additional 1,198,725 shares during the period. SG Americas Securities LLC raised its holdings in shares of Site Centers by 698.7% in the 4th quarter. SG Americas Securities LLC now owns 819,736 shares of the company’s stock worth $5,263,000 after buying an additional 717,098 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of Site Centers by 47.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 314,955 shares of the company’s stock worth $2,838,000 after buying an additional 100,709 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Site Centers by 150.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 654,465 shares of the company’s stock worth $4,202,000 after buying an additional 393,571 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Site Centers by 1.3% in the 3rd quarter. Rhumbline Advisers now owns 155,740 shares of the company’s stock worth $1,403,000 after buying an additional 2,060 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SITC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Site Centers in a report on Friday, March 27th. Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Piper Sandler increased their target price on Site Centers from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $8.00.

Site Centers Trading Down 0.1%

Shares of SITC opened at $5.56 on Monday. Site Centers Corp. has a 1 year low of $5.24 and a 1 year high of $13.10. The stock has a 50 day simple moving average of $5.70 and a 200-day simple moving average of $6.51. The stock has a market cap of $291.42 million, a PE ratio of 1.65 and a beta of 1.01.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Thursday, February 26th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates 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.

Site Centers Company 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.