Victory Capital Management Inc. Purchases 106,596 Shares of SITE Centers Corp. (NYSE:SITC)

Victory Capital Management Inc. lifted its position in shares of SITE Centers Corp. (NYSE:SITCGet Rating) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,840,494 shares of the company’s stock after purchasing an additional 106,596 shares during the period. Victory Capital Management Inc.’s holdings in SITE Centers were worth $30,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. CWM LLC grew its position in SITE Centers by 338.0% during the third quarter. CWM LLC now owns 2,501 shares of the company’s stock worth $27,000 after buying an additional 1,930 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in SITE Centers during the third quarter worth approximately $41,000. Lindbrook Capital LLC grew its position in SITE Centers by 537.1% during the second quarter. Lindbrook Capital LLC now owns 3,899 shares of the company’s stock worth $53,000 after buying an additional 3,287 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in SITE Centers during the first quarter worth approximately $76,000. Finally, Truist Financial Corp grew its position in SITE Centers by 17.5% during the third quarter. Truist Financial Corp now owns 12,260 shares of the company’s stock worth $131,000 after buying an additional 1,827 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

SITE Centers Stock Performance

SITC stock opened at $12.88 on Monday. The stock has a 50-day moving average price of $13.30 and a 200-day moving average price of $13.02. SITE Centers Corp. has a 1-year low of $10.42 and a 1-year high of $17.22. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.94. The firm has a market cap of $2.74 billion, a PE ratio of 14.64 and a beta of 1.53.

SITE Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, December 8th. SITE Centers’s dividend payout ratio (DPR) is presently 59.09%.

Analyst Ratings Changes

SITC has been the topic of a number of analyst reports. Evercore ISI reduced their price target on 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 raised SITE Centers from a “sell” rating to a “hold” rating in a report on Wednesday, January 18th. Truist Financial reduced their target price on SITE Centers from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, December 2nd. 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 report on Friday, October 7th. Finally, Mizuho downgraded SITE Centers from a “buy” rating to a “neutral” rating and reduced their target price for the company from $14.00 to $13.00 in a report on Tuesday, January 10th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.85.

Insider Transactions at SITE Centers

In other news, EVP John M. Cattonar sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 20.30% of the company’s stock.

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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