Victory Capital Management Inc. Sells 91,467 Shares of SITE Centers Corp. (NYSE:SITC)

Victory Capital Management Inc. lowered its stake in SITE Centers Corp. (NYSE:SITC) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,334,274 shares of the company’s stock after selling 91,467 shares during the quarter. Victory Capital Management Inc. owned approximately 1.59% of SITE Centers worth $45,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of SITE Centers in the fourth quarter worth about $30,000. Lindbrook Capital LLC raised its holdings in SITE Centers by 30.4% in the 4th quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after buying an additional 1,218 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in SITE Centers by 6.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock valued at $159,000 after buying an additional 828 shares during the last quarter. Cornerstone Investment Partners LLC bought a new position in SITE Centers in the 4th quarter valued at approximately $159,000. Finally, Park Avenue Securities LLC bought a new position in SITE Centers in the 3rd quarter valued at approximately $180,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Performance

Shares of SITC stock opened at $13.97 on Monday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 13.70 and a beta of 1.60. SITE Centers Corp. has a 52 week low of $10.88 and a 52 week high of $14.71. The company has a quick ratio of 3.24, a current ratio of 3.54 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $13.94 and a 200-day moving average of $13.54.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.26 by $0.66. The company had revenue of $123.20 million during the quarter, compared to the consensus estimate of $127.81 million. SITE Centers had a net margin of 43.36% and a return on equity of 11.83%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. On average, equities analysts forecast that SITE Centers Corp. will post 0.91 earnings per share for the current year.

SITE Centers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 14th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, March 13th. SITE Centers’s dividend payout ratio (DPR) is 50.98%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reiterated an “overweight” rating and issued a $15.50 price objective on shares of SITE Centers in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SITE Centers currently has a consensus rating of “Hold” and a consensus target price of $14.25.

SITE Centers Profile

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. 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.