SITE Centers Corp. (NYSE:SITC) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its holdings in SITE Centers Corp. (NYSE:SITC – Get Rating) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,465 shares of the company’s stock after purchasing an additional 927 shares during the quarter. Park Avenue Securities LLC’s holdings in SITE Centers were worth $133,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on SITC. Piper Sandler decreased their target price on SITE Centers from $17.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 7th. StockNews.com upgraded SITE Centers from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. Mizuho downgraded SITE Centers from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $13.00 in a research note on Tuesday, January 10th. Truist Financial reduced their price objective on SITE Centers from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, December 2nd. Finally, Evercore ISI reduced their price objective on SITE Centers from $16.00 to $15.00 and set an “in-line” rating for the company in a research note on Tuesday, September 27th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.85.

SITE Centers Stock Up 0.5 %

Shares of SITC stock opened at $13.28 on Wednesday. The stock’s 50 day simple moving average is $13.30 and its 200 day simple moving average is $13.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.37 and a current ratio of 0.37. SITE Centers Corp. has a twelve month low of $10.42 and a twelve month high of $17.22. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 15.09 and a beta of 1.53.

SITE Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Thursday, December 8th. SITE Centers’s dividend payout ratio (DPR) is currently 59.09%.

Insider Buying and Selling at SITE Centers

In other SITE Centers news, EVP John M. Cattonar sold 11,000 shares of the firm’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 value of $149,710.00. Following the sale, the executive vice president now owns 40,922 shares of the company’s stock, valued at approximately $556,948.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.80% of the company’s stock.

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.