Alexander Otto Sells 228,042 Shares of SITE Centers Corp. (NYSE:SITC) Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 228,042 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $14.11, for a total value of $3,217,672.62. Following the completion of the transaction, the director now directly owns 17,268,286 shares of the company’s stock, valued at approximately $243,655,515.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 24th, Alexander Otto sold 384,663 shares of SITE Centers stock. The shares were sold at an average price of $14.50, for a total value of $5,577,613.50.
• 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 transaction of $2,745,158.12.
• On Tuesday, June 18th, Alexander Otto sold 82,984 shares of SITE Centers stock. The stock was sold at an average price of $14.40, for a total transaction of $1,194,969.60.
• On Wednesday, June 12th, Alexander Otto sold 242,573 shares of SITE Centers stock. The stock was sold at an average price of $14.71, for a total transaction 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 Stock Performance

Shares of SITC stock opened at $14.51 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of 14.23 and a beta of 1.63. The business has a 50 day moving average of $14.17 and a two-hundred day moving average of $13.97. 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 announced 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 3.58%. The ex-dividend date is Tuesday, June 18th. SITE Centers’s dividend payout ratio is presently 50.98%.

Hedge Funds Weigh In On SITE Centers

Several hedge funds and other institutional investors have recently modified their holdings of SITC. Chilton Capital Management LLC lifted its position in SITE Centers by 384.0% in the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock valued at $28,000 after purchasing an additional 1,536 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of SITE Centers during the fourth quarter worth approximately $30,000. Lindbrook Capital LLC grew 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 worth $71,000 after buying an additional 1,218 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in SITE Centers in the 1st quarter valued at approximately $147,000. Finally, Cornerstone Investment Partners LLC acquired a new position in SITE Centers during the 4th quarter worth $159,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.