Sumitomo Mitsui Trust Group Inc. Has $773,000 Position in SITE Centers Corp. (NYSE:SITC)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of SITE Centers Corp. (NYSE:SITC) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,524 shares of the company’s stock after selling 1,057 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.10% of SITE Centers worth $773,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. KBC Group NV boosted its position in SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after purchasing an additional 2,193 shares during the last quarter. Vestcor Inc acquired a new position in SITE Centers during the third quarter valued at approximately $95,000. Baader Bank Aktiengesellschaft acquired a new position in SITE Centers during the fourth quarter valued at approximately $163,000. Neo Ivy Capital Management acquired a new position in SITE Centers during the third quarter valued at approximately $202,000. Finally, Systematic Financial Management LP acquired a new position in SITE Centers during the third quarter valued at approximately $203,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SITE Centers

In other news, Director Dawn M. Sweeney sold 3,768 shares of SITE Centers stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the transaction, the director now directly owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 181,457 shares of company stock valued at $2,791,693 in the last 90 days. 10.10% of the stock is owned by corporate insiders.

SITE Centers Trading Down 2.9 %

NYSE SITC opened at $14.66 on Friday. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a twelve month low of $14.55 and a twelve month high of $32.22. The company has a market cap of $768.83 million, a price-to-earnings ratio of 1.07 and a beta of 1.60. The business’s fifty day moving average is $15.18 and its 200 day moving average is $47.53.

Wall Street Analyst Weigh In

SITC has been the subject of several recent research reports. StockNews.com initiated coverage on SITE Centers in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Piper Sandler dropped their price objective on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company dropped their price objective on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Citigroup dropped their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.75.

SITE Centers Company 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.