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SITE Centers Corp. (NYSE:SITC – Get Rating) EVP John M. Cattonar sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $13.61, for a total value of $149,710.00. Following the completion of the transaction, the executive vice president now directly owns 40,922 shares of the company’s stock, valued at approximately $556,948.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
SITE Centers Stock Down 3.0 %
Shares of SITC stock traded down $0.41 on Wednesday, reaching $13.22. 1,155,621 shares of the company were exchanged, compared to its average volume of 1,987,973. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50-day moving average of $12.92 and a 200-day moving average of $13.15. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 15.49 and a beta of 1.57. SITE Centers Corp. has a one year low of $10.42 and a one year high of $17.22.
SITE Centers Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Friday, December 9th will be issued a $0.13 dividend. The ex-dividend date is Thursday, December 8th. This represents a $0.52 annualized dividend and a yield of 3.93%. SITE Centers’s payout ratio is currently 59.09%.
Institutional Investors Weigh In On SITE Centers
Hedge funds and other institutional investors have recently modified their holdings of the company. Elequin Capital LP bought a new stake in shares of SITE Centers during the third quarter worth about $1,317,000. Bank of New York Mellon Corp increased its holdings in SITE Centers by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,303,319 shares of the company’s stock worth $24,668,000 after purchasing an additional 71,727 shares in the last quarter. Bridgefront Capital LLC bought a new stake in SITE Centers during the 3rd quarter worth approximately $165,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of SITE Centers in the third quarter valued at approximately $586,000. Finally, Balyasny Asset Management LLC grew its holdings in SITE Centers by 104.9% during the third quarter. Balyasny Asset Management LLC now owns 768,114 shares of the company’s stock worth $8,227,000 after buying an additional 393,292 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on SITC. Truist Financial decreased their price objective on SITE Centers from $15.00 to $14.00 and set a “hold” rating for the company in a report on Friday, December 2nd. Evercore ISI lowered their price objective on SITE Centers from $16.00 to $15.00 and set an “in-line” rating for the company in a research report on Tuesday, September 27th. Mizuho reduced their target price on SITE Centers from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 11th. Piper Sandler lowered their price target on shares of SITE Centers from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 7th. Finally, StockNews.com raised shares of SITE Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.95.
About SITE Centers
(Get Rating)
SITE Centers 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.
Further Reading
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