Insider Selling: SITE Centers Corp. (NYSE:SITC) Director Sells 82,984 Shares of Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 82,984 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $14.40, for a total value of $1,194,969.60. Following the transaction, the director now owns 18,544,314 shares of the company’s stock, valued at $267,038,121.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, June 20th, Alexander Otto sold 191,167 shares of SITE Centers stock. The shares were sold at an average price of $14.36, for a total value of $2,745,158.12.
• On Wednesday, June 12th, Alexander Otto sold 242,573 shares of SITE Centers stock. The shares were sold at an average price of $14.71, for a total value of $3,568,248.83.
• On Monday, June 10th, Alexander Otto sold 91,778 shares of SITE Centers stock. The shares were sold at an average price of $14.56, for a total value of $1,336,287.68.

SITE Centers Trading Down 0.8 %

SITE Centers stock opened at $14.34 on Monday. The business has a 50-day simple moving average of $14.10 and a two-hundred day simple moving average of $13.95. The company has a market cap of $3.00 billion, a P/E ratio of 14.06 and a beta of 1.63. SITE Centers Corp. has a 52-week low of $10.88 and a 52-week high of $14.88. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.80.

SITE Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.63%. SITE Centers’s payout ratio is currently 50.98%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lifted their price objective on SITE Centers from $15.50 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SITE Centers has a consensus rating of “Hold” and a consensus price target of $14.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Long Pond Capital LP raised its holdings in shares of SITE Centers by 403.8% during the 1st quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock worth $84,885,000 after acquiring an additional 4,644,142 shares in the last quarter. Norges Bank purchased a new stake in shares of SITE Centers during the 4th quarter worth approximately $34,740,000. Vanguard Group Inc. raised its holdings in shares of SITE Centers by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 30,339,767 shares of the company’s stock worth $413,531,000 after acquiring an additional 608,996 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SITE Centers by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,476,250 shares of the company’s stock worth $227,812,000 after acquiring an additional 384,823 shares in the last quarter. Finally, Tudor Investment Corp Et Al raised its holdings in shares of SITE Centers by 155.6% during the 3rd quarter. Tudor Investment Corp Et Al now owns 526,553 shares of the company’s stock worth $6,492,000 after acquiring an additional 320,541 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.