Insider Selling: SITE Centers Corp. (NYSE:SITC) Director Sells $2,745,158.12 in Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 191,167 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $14.36, for a total value of $2,745,158.12. Following the completion of the transaction, the director now owns 18,353,147 shares of the company’s stock, valued at approximately $263,551,190.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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 Tuesday, June 18th, Alexander Otto sold 82,984 shares of SITE Centers stock. The shares were sold at an average price of $14.40, for a total value of $1,194,969.60.
• 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 Stock Down 0.2 %

SITC opened at $14.10 on Thursday. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.80. The firm has a market cap of $2.95 billion, a P/E ratio of 13.82 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 business’s fifty day simple moving average is $14.14 and its 200 day simple moving average is $13.96.

SITE Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, June 18th. SITE Centers’s payout ratio is currently 50.98%.

Institutional Trading of SITE Centers

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

Analysts Set New Price Targets

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

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.