SITE Centers (NYSE:SITC) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of SITE Centers (NYSE:SITC – Get Rating) in a research note issued to investors on Tuesday, The Fly reports. The firm issued an equal weight rating on the stock.

SITC has been the topic of a number of other reports. Mizuho raised their price target on shares of SITE Centers from $13.00 to $14.00 in a research report on Wednesday, March 1st. StockNews.com initiated coverage on shares of SITE Centers in a research report on Thursday, May 18th. They set a hold rating on the stock. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $14.56.

SITE Centers Price Performance

NYSE:SITC opened at $11.99 on Tuesday. SITE Centers has a 52 week low of $10.42 and a 52 week high of $16.09. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 15.99 and a beta of 1.53. The firm’s 50-day simple moving average is $11.91 and its 200 day simple moving average is $12.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.44.

SITE Centers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Wednesday, June 14th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Tuesday, June 13th. SITE Centers’s dividend payout ratio (DPR) is presently 69.33%.

Institutional Investors Weigh In On SITE Centers

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Putnam Investments LLC boosted its position in SITE Centers by 6.4% during the 1st quarter. Putnam Investments LLC now owns 30,787 shares of the company’s stock worth $378,000 after buying an additional 1,846 shares during the period. JPMorgan Chase & Co. boosted its position in SITE Centers by 14.1% during the 1st quarter. JPMorgan Chase & Co. now owns 11,031,687 shares of the company’s stock worth $135,469,000 after buying an additional 1,361,282 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of SITE Centers by 7,518.9% in the 1st quarter. Rockefeller Capital Management L.P. now owns 18,971 shares of the company’s stock worth $232,000 after purchasing an additional 18,722 shares during the period. Chilton Capital Management LLC lifted its position in shares of SITE Centers by 2.7% in the 1st quarter. Chilton Capital Management LLC now owns 901,603 shares of the company’s stock worth $11,169,000 after purchasing an additional 23,849 shares during the period. Finally, Susquehanna International Group LLP lifted its position in shares of SITE Centers by 352.1% in the 1st quarter. Susquehanna International Group LLP now owns 103,349 shares of the company’s stock worth $1,269,000 after purchasing an additional 80,489 shares during the period. 95.96% of the stock is owned by institutional investors.

SITE Centers Company Profile

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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.