SITE Centers Corp. (NYSE:SITC) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of SITE Centers Corp. (NYSE:SITCGet Rating) by 36.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,227 shares of the company’s stock after selling 6,440 shares during the quarter. Van ECK Associates Corp’s holdings in SITE Centers were worth $120,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of SITE Centers by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 29,518,566 shares of the company’s stock worth $493,255,000 after purchasing an additional 479,274 shares during the last quarter. State Street Corp raised its position in shares of SITE Centers by 6.2% during the 2nd quarter. State Street Corp now owns 11,470,758 shares of the company’s stock worth $155,884,000 after purchasing an additional 667,004 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of SITE Centers by 3.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 3,702,727 shares of the company’s stock worth $49,876,000 after purchasing an additional 136,869 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in SITE Centers by 23.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,451,642 shares of the company’s stock valued at $46,493,000 after acquiring an additional 646,692 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in SITE Centers by 5.2% in the 2nd quarter. Northern Trust Corp now owns 3,282,317 shares of the company’s stock valued at $44,214,000 after acquiring an additional 163,268 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Stock Down 2.4 %

Shares of SITE Centers stock opened at $12.78 on Friday. The company has a fifty day moving average price of $13.31 and a 200 day moving average price of $13.05. 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 twelve month low of $10.42 and a twelve month high of $17.22. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 14.52 and a beta of 1.53.

SITE Centers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $0.52 dividend on an annualized basis and a yield of 4.07%. SITE Centers’s dividend payout ratio (DPR) is 59.09%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SITC. Truist Financial cut their price target on SITE Centers from $15.00 to $14.00 and set a “hold” rating for the company in a report on Friday, December 2nd. StockNews.com upgraded SITE Centers from a “sell” rating to a “hold” rating in a report on Wednesday. Mizuho downgraded SITE Centers from a “buy” rating to a “neutral” rating and cut their price target for the company from $14.00 to $13.00 in a report on Tuesday, January 10th. Evercore ISI cut their price target on SITE Centers from $16.00 to $15.00 and set an “in-line” rating for the company in a report on Tuesday, September 27th. Finally, Piper Sandler cut their price target on SITE Centers from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 7th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.85.

Insider Buying and Selling

In related news, EVP John M. Cattonar sold 11,000 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $13.61, for a total transaction of $149,710.00. Following the completion of the sale, the executive vice president now directly owns 40,922 shares of the company’s stock, valued at approximately $556,948.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.80% of the stock is owned by corporate insiders.

About SITE Centers

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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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