Insider Selling: SITE Centers Corp. (NYSE:SITC) Director Sells $1,336,287.68 in Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 91,778 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $14.56, for a total transaction of $1,336,287.68. Following the completion of the transaction, the director now owns 19,522,976 shares of the company’s stock, valued at approximately $284,254,530.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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.

SITE Centers Stock Performance

Shares of SITC opened at $14.56 on Friday. SITE Centers Corp. has a 12 month low of $10.88 and a 12 month high of $14.88. The firm has a fifty day simple moving average of $14.05 and a 200 day simple moving average of $13.90. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 14.27 and a beta of 1.63. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.80.

SITE Centers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Tuesday, June 18th. SITE Centers’s dividend payout ratio is currently 50.98%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of SITE Centers

Large investors have recently added to or reduced their stakes in the company. Chilton Capital Management LLC lifted its stake in SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock valued at $28,000 after acquiring an additional 1,536 shares during the last quarter. GAMMA Investing LLC acquired a new stake in SITE Centers in the fourth quarter valued at $30,000. Lindbrook Capital LLC raised its position in shares of SITE Centers by 30.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after purchasing an additional 1,218 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of SITE Centers in the first quarter valued at about $147,000. Finally, Evergreen Capital Management LLC raised its position in shares of SITE Centers by 6.9% in the third quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock valued at $159,000 after purchasing an additional 828 shares during the period. 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.