QRG Capital Management Inc. Decreases Position in SITE Centers Corp. (NYSE:SITC)

QRG Capital Management Inc. trimmed its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,071 shares of the company’s stock after selling 1,729 shares during the quarter. QRG Capital Management Inc.’s holdings in SITE Centers were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SITC. GAMMA Investing LLC acquired a new position in shares of SITE Centers during the fourth quarter valued at about $30,000. Lindbrook Capital LLC lifted its stake in shares of SITE Centers by 30.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock worth $71,000 after buying an additional 1,218 shares during the period. Evergreen Capital Management LLC increased its position in shares of 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 acquiring an additional 828 shares during the period. Cornerstone Investment Partners LLC purchased a new position in SITE Centers in the 4th quarter worth $159,000. Finally, Metis Global Partners LLC lifted its position in SITE Centers by 14.1% during the 4th quarter. Metis Global Partners LLC now owns 11,857 shares of the company’s stock worth $162,000 after acquiring an additional 1,462 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Trading Up 1.0 %

SITC stock opened at $14.17 on Wednesday. The business’s 50-day moving average is $13.98 and its 200 day moving average is $13.74. SITE Centers Corp. has a 12-month low of $10.88 and a 12-month high of $14.71. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 13.89 and a beta of 1.60. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.80.

SITE Centers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, June 18th. SITE Centers’s payout ratio is 50.98%.

Wall Street Analysts Forecast Growth

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