SITE Centers Corp. (NYSE:SITC) Director Sells $3,568,248.83 in Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 242,573 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $14.71, for a total transaction of $3,568,248.83. Following the completion of the transaction, the director now owns 19,071,327 shares of the company’s stock, valued at $280,539,220.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alexander Otto also recently made the following trade(s):

• On Monday, June 10th, Alexander Otto sold 91,778 shares of SITE Centers stock. The stock was sold at an average price of $14.56, for a total value of $1,336,287.68.

SITE Centers Stock Down 1.0 %

SITC stock opened at $14.56 on Monday. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 14.27 and a beta of 1.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.54 and a current ratio of 3.54. The business’s 50-day moving average is $14.05 and its two-hundred day moving average is $13.92. SITE Centers Corp. has a fifty-two week low of $10.88 and a fifty-two week high of $14.88.

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. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.52 annualized dividend and a yield of 3.57%. SITE Centers’s payout ratio is presently 50.98%.

Institutional Trading of SITE Centers

Hedge funds have recently bought and sold shares of the stock. Chilton Capital Management LLC increased its stake in shares of SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after purchasing an additional 1,536 shares in the last quarter. GAMMA Investing LLC purchased a new stake in SITE Centers in the 4th quarter worth $30,000. Lindbrook Capital LLC raised its holdings in SITE Centers by 30.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after acquiring an additional 1,218 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in SITE Centers during the first quarter valued at about $147,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of SITE Centers in the fourth quarter worth about $159,000. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their target price on SITE Centers from $15.50 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, SITE Centers currently has a consensus rating of “Hold” and an average price target of $14.38.

About SITE Centers

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.