SITE Centers (NYSE:SITC) Sets New 52-Week High at $16.11

Shares of SITE Centers Corp. (NYSE:SITC) reached a new 52-week high on Tuesday . The stock traded as high as $16.11 and last traded at $16.02, with a volume of 2926961 shares trading hands. The stock had previously closed at $15.60.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their price objective 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.33.

SITE Centers Stock Up 2.6 %

The firm’s 50-day simple moving average is $14.66 and its two-hundred day simple moving average is $14.18. 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 company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 15.29 and a beta of 1.64.

SITE Centers’s stock is scheduled to reverse split before the market opens on Monday, August 19th. The 1-4 reverse split was announced on Monday, August 19th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, August 19th.

SITE Centers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, June 18th. SITE Centers’s dividend payout ratio (DPR) is 50.98%.

Insider Transactions at SITE Centers

In other news, Director Alexander Otto sold 357,568 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $14.39, for a total value of $5,145,403.52. Following the sale, the director now directly owns 16,582,983 shares in the company, valued at $238,629,125.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,578,775 shares of company stock valued at $22,785,354 in the last 90 days. 10.10% of the stock is currently owned by insiders.

Institutional Trading of SITE Centers

A number of large investors have recently made changes to their positions in the stock. Chilton Capital Management LLC grew its holdings in shares of SITE Centers by 384.0% during the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after buying an additional 1,536 shares in the last quarter. GAMMA Investing LLC acquired a new stake in SITE Centers during the fourth quarter worth approximately $30,000. Allspring Global Investments Holdings LLC purchased a new stake in SITE Centers in the 2nd quarter worth approximately $42,000. 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 acquiring an additional 1,218 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of SITE Centers during the 1st quarter worth $147,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.