Dynamic Technology Lab Private Ltd Purchases New Holdings in SITE Centers Corp. (NYSE:SITC)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of SITE Centers Corp. (NYSE:SITC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,122 shares of the company’s stock, valued at approximately $792,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in shares of SITE Centers during the fourth quarter worth approximately $30,000. Lindbrook Capital LLC increased 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 purchasing an additional 1,218 shares during the period. 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 acquiring an additional 828 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new stake in shares of SITE Centers during the 4th quarter worth $159,000. Finally, Metis Global Partners LLC grew its holdings in shares of 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 purchasing an additional 1,462 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $14.22 on Thursday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 13.94 and a beta of 1.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.54 and a quick ratio of 3.54. The firm has a 50 day simple moving average of $13.98 and a 200 day simple moving average of $13.74. SITE Centers Corp. has a one year low of $10.88 and a one year high of $14.71.

SITE Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, June 18th. SITE Centers’s dividend payout ratio (DPR) is currently 50.98%.

Analysts Set New Price Targets

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