Pictet Asset Management SA Raises Stock Holdings in SITE Centers Corp. (NYSE:SITC)

Pictet Asset Management SA raised its stake in SITE Centers Corp. (NYSE:SITCGet Rating) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,252 shares of the company’s stock after buying an additional 8,684 shares during the quarter. Pictet Asset Management SA’s holdings in SITE Centers were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SITC. GSA Capital Partners LLP lifted its holdings in shares of SITE Centers by 90.3% in the 1st quarter. GSA Capital Partners LLP now owns 41,480 shares of the company’s stock worth $693,000 after acquiring an additional 19,678 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in SITE Centers by 8.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 79,010 shares of the company’s stock worth $1,320,000 after purchasing an additional 5,917 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of SITE Centers by 2.6% during the first quarter. Advisor Group Holdings Inc. now owns 31,142 shares of the company’s stock worth $547,000 after buying an additional 780 shares during the period. KBC Group NV acquired a new stake in shares of SITE Centers in the first quarter valued at $126,000. Finally, Texas Permanent School Fund raised its holdings in shares of SITE Centers by 3.2% in the 2nd quarter. Texas Permanent School Fund now owns 131,366 shares of the company’s stock valued at $1,770,000 after buying an additional 4,084 shares during the period. Hedge funds and other institutional investors own 87.89% of the company’s stock.

SITE Centers Stock Performance

Shares of SITC stock opened at $13.44 on Wednesday. The company has a market cap of $2.86 billion, a P/E ratio of 15.00 and a beta of 1.56. The firm has a fifty day moving average price of $11.92 and a 200 day moving average price of $13.19. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.94. SITE Centers Corp. has a 12 month low of $10.42 and a 12 month high of $17.22.

SITE Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 9th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.52 annualized dividend and a dividend yield of 3.87%. SITE Centers’s dividend payout ratio is currently 59.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lowered their target price on SITE Centers from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 7th. 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. Mizuho dropped their price objective on shares of SITE Centers from $17.00 to $14.00 and set a “buy” rating for the company in a report on Friday, November 11th. StockNews.com upgraded shares of SITE Centers from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. Finally, Stifel Nicolaus dropped their price target on shares of SITE Centers from $18.00 to $16.00 in a research note on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.05.

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.

Featured Stories

Want to see what other hedge funds are holding SITC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SITE Centers Corp. (NYSE:SITCGet Rating).

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

Receive News & Ratings for SITE Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITE Centers and related companies with MarketBeat.com's FREE daily email newsletter.