Boothbay Fund Management LLC Takes Position in SITE Centers Corp. (NYSE:SITC)

Boothbay Fund Management LLC purchased a new position in shares of SITE Centers Corp. (NYSE:SITC – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,910 shares of the company’s stock, valued at approximately $160,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SITC. Vanguard Group Inc. lifted its stake in shares of 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 during the period. State Street Corp grew its holdings in SITE Centers by 6.2% during the 2nd quarter. State Street Corp now owns 11,470,758 shares of the company’s stock valued at $155,884,000 after purchasing an additional 667,004 shares in the last quarter. PGGM Investments acquired a new stake in SITE Centers during the 3rd quarter valued at $56,484,000. JPMorgan Chase & Co. boosted its stake in SITE Centers by 23.1% during 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 boosted its stake in SITE Centers by 5.2% during 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of SITE Centers from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, December 2nd. Mizuho raised their target price on shares of SITE Centers from $13.00 to $14.00 in a research note on Wednesday, March 1st. Finally, StockNews.com raised shares of SITE Centers from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, SITE Centers has an average rating of “Hold” and a consensus price target of $14.95.

SITE Centers Trading Down 0.8 %

Shares of SITC stock opened at $13.18 on Tuesday. SITE Centers Corp. has a 1 year low of $10.42 and a 1 year high of $17.22. The firm’s fifty day simple moving average is $13.44 and its 200 day simple moving average is $12.85. The firm has a market capitalization of $2.77 billion, a P/E ratio of 17.81 and a beta of 1.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.89.

SITE Centers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Friday, March 17th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, March 16th. SITE Centers’s dividend payout ratio (DPR) is currently 70.27%.

Insider Buying and Selling

In related news, EVP John M. Cattonar sold 11,000 shares of the business’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 transaction, the executive vice president now owns 40,922 shares of the company’s stock, valued at $556,948.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.80% of the stock is currently owned by insiders.

About SITE Centers

(Get Rating)

SITE Centers Corp. is a real estate investment trust, which engages in the acquisition, development, lease, and management of shopping centers. It operates through the Shopping Centers and Loan Investments segments. The company was founded in 1965 and is headquartered in Beachwood, OH.