Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Stock Position in SITE Centers Corp. (NYSE:SITC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in SITE Centers Corp. (NYSE:SITCGet Rating) by 11.4% in the 3rd quarter, Holdings Channel reports. The firm owned 88,009 shares of the company’s stock after buying an additional 8,999 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in SITE Centers were worth $943,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SITC. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of SITE Centers by 4.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,333 shares of the company’s stock valued at $732,000 after acquiring an additional 2,401 shares in the last quarter. Deutsche Bank AG grew its stake in SITE Centers by 392.0% in the 2nd quarter. Deutsche Bank AG now owns 3,214,591 shares of the company’s stock worth $43,300,000 after buying an additional 2,561,269 shares in the last quarter. Texas Permanent School Fund increased 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 worth $1,770,000 after buying an additional 4,084 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of SITE Centers during the 3rd quarter valued at $953,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of SITE Centers by 14.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,665 shares of the company’s stock worth $278,000 after acquiring an additional 2,637 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

SITE Centers Price Performance

Shares of SITE Centers stock opened at $12.88 on Friday. The company’s fifty day simple moving average is $13.30 and its two-hundred day simple moving average is $13.03. SITE Centers Corp. has a 12-month low of $10.42 and a 12-month high of $17.22. The firm has a market cap of $2.74 billion, a PE ratio of 14.64 and a beta of 1.53. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.94.

SITE Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 9th were issued 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 4.04%. SITE Centers’s dividend payout ratio is presently 59.09%.

Analyst Upgrades and Downgrades

SITC has been the topic of a number of research analyst reports. Piper Sandler reduced 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. Truist Financial reduced their price objective on SITE Centers from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, December 2nd. StockNews.com upgraded SITE Centers from a “sell” rating to a “hold” rating in a research report on Wednesday. Mizuho cut shares of SITE Centers from a “buy” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $13.00 in a research report on Tuesday, January 10th. Finally, Evercore ISI lowered their price objective on shares of SITE Centers from $16.00 to $15.00 and set an “in-line” rating for the company in a report on Tuesday, September 27th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.85.

Insider Buying and Selling at SITE Centers

In other news, EVP John M. Cattonar sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $13.61, for a total transaction of $149,710.00. Following the transaction, the executive vice president now directly owns 40,922 shares of the company’s stock, valued at $556,948.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.80% of the stock is currently owned by corporate insiders.

SITE Centers Profile

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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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