Mitsubishi UFJ Trust & Banking Corp Grows Stake in SITE Centers Corp. (NYSE:SITC)

Mitsubishi UFJ Trust & Banking Corp raised its stake in SITE Centers Corp. (NYSE:SITCGet Rating) by 37.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,739 shares of the company’s stock after purchasing an additional 9,691 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in SITE Centers were worth $481,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. raised its position in SITE Centers by 2.6% in the first quarter. Advisor Group Holdings Inc. now owns 31,142 shares of the company’s stock valued at $547,000 after purchasing an additional 780 shares during the period. M&T Bank Corp grew its stake in shares of SITE Centers by 8.3% during the first quarter. M&T Bank Corp now owns 14,644 shares of the company’s stock valued at $245,000 after acquiring an additional 1,119 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of SITE Centers by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 25,870 shares of the company’s stock valued at $432,000 after acquiring an additional 1,341 shares in the last quarter. Profund Advisors LLC grew its stake in shares of SITE Centers by 7.5% during the first quarter. Profund Advisors LLC now owns 19,254 shares of the company’s stock valued at $322,000 after acquiring an additional 1,344 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of SITE Centers by 2.0% during the second quarter. Maryland State Retirement & Pension System now owns 73,428 shares of the company’s stock valued at $989,000 after acquiring an additional 1,434 shares in the last quarter. 87.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SITC has been the topic of several research analyst reports. Evercore ISI reduced their price target on shares of SITE Centers from $16.00 to $15.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 27th. StockNews.com upgraded SITE Centers from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. Mizuho cut their price target on SITE Centers from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, November 11th. Truist Financial lowered their price objective on SITE Centers to $15.00 in a research note on Tuesday, September 6th. Finally, Piper Sandler cut their target price on SITE Centers from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 7th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.05.

SITE Centers Stock Performance

NYSE SITC opened at $13.20 on Tuesday. The company has a market capitalization of $2.81 billion, a PE ratio of 14.88 and a beta of 1.56. SITE Centers Corp. has a 1 year low of $10.42 and a 1 year high of $17.22. The firm has a fifty day moving average of $11.93. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.37 and a quick ratio of 0.37.

SITE Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Friday, December 9th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Thursday, December 8th. SITE Centers’s dividend payout ratio is presently 59.09%.

SITE Centers Profile

(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.

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

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