Comerica Bank lessened its stake in SITE Centers Corp. (NYSE:SITC – Get Rating) by 8.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 141,936 shares of the company’s stock after selling 12,720 shares during the quarter. Comerica Bank’s holdings in SITE Centers were worth $1,651,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC increased its stake in SITE Centers by 338.0% in the 3rd quarter. CWM LLC now owns 2,501 shares of the company’s stock worth $27,000 after buying an additional 1,930 shares during the period. Wipfli Financial Advisors LLC bought a new position in SITE Centers during the 3rd quarter worth about $41,000. Lindbrook Capital LLC grew its holdings in SITE Centers by 537.1% during the 2nd quarter. Lindbrook Capital LLC now owns 3,899 shares of the company’s stock worth $53,000 after acquiring an additional 3,287 shares in the last quarter. Lazard Asset Management LLC bought a new position in SITE Centers during the 1st quarter worth about $76,000. Finally, First Manhattan Co. bought a new position in SITE Centers during the 1st quarter worth about $155,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.
Insider Buying and Selling
In related news, EVP John M. Cattonar sold 11,000 shares of SITE Centers 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 sale, the executive vice president now directly owns 40,922 shares in the company, valued at approximately $556,948.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.80% of the stock is owned by company insiders.
SITE Centers Stock Up 0.8 %
SITE Centers Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Thursday, December 8th. SITE Centers’s dividend payout ratio (DPR) is presently 59.09%.
Analysts Set New Price Targets
Several research analysts have issued reports on SITC shares. Piper Sandler dropped their target price on shares of SITE Centers from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, October 7th. StockNews.com upgraded shares of SITE Centers from a “sell” rating to a “hold” rating in a report on Wednesday. Truist Financial dropped their target price on shares of SITE Centers from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, December 2nd. Mizuho cut shares of SITE Centers from a “buy” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $13.00 in a report on Tuesday, January 10th. Finally, Evercore ISI lowered 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 report on Tuesday, September 27th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.85.
About SITE Centers
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.
- Get a free copy of the StockNews.com research report on SITE Centers (SITC)
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