Arizona State Retirement System Grows Position in SITE Centers Corp. (NYSE:SITC)

Arizona State Retirement System increased its position in shares of SITE Centers Corp. (NYSE:SITC – Get Rating) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,358 shares of the company’s stock after buying an additional 2,062 shares during the period. Arizona State Retirement System’s holdings in SITE Centers were worth $743,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SITC. CWM LLC increased its stake in shares of 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 during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of SITE Centers in the third quarter valued at approximately $41,000. Lazard Asset Management LLC acquired a new stake in shares of SITE Centers in the first quarter valued at approximately $76,000. Quadrant Capital Group LLC boosted its holdings in shares of SITE Centers by 365.5% in the third quarter. Quadrant Capital Group LLC now owns 7,197 shares of the company’s stock valued at $77,000 after acquiring an additional 5,651 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of SITE Centers by 17.5% in the third quarter. Truist Financial Corp now owns 12,260 shares of the company’s stock valued at $131,000 after acquiring an additional 1,827 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SITC has been the subject of several recent research reports. StockNews.com initiated coverage on SITE Centers in a report on Thursday, March 16th. They set a “hold” rating for the company. Mizuho raised their price target on SITE Centers from $13.00 to $14.00 in a research report on Wednesday, March 1st. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.56.

SITE Centers Trading Down 4.5 %

Shares of SITC stock opened at $11.44 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market capitalization of $2.39 billion, a PE ratio of 15.25 and a beta of 1.53. The stock has a fifty day moving average of $11.97 and a two-hundred day moving average of $12.82. SITE Centers Corp. has a 1 year low of $10.42 and a 1 year high of $16.09.

SITE Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Wednesday, June 14th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.52 dividend on an annualized basis and a yield of 4.55%. SITE Centers’s dividend payout ratio (DPR) is currently 69.33%.

About SITE Centers

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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.