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

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 228,042 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $14.11, for a total transaction of $3,217,672.62. Following the completion of the transaction, the director now owns 17,268,286 shares of the company’s stock, valued at approximately $243,655,515.46. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was 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 stock was sold at an average price of $14.36, for a total value of $2,745,158.12.
• 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 transaction of $3,568,248.83.
• On Monday, June 10th, Alexander Otto sold 91,778 shares of SITE Centers stock. The stock was sold at an average price of $14.56, for a total transaction of $1,336,287.68.

SITE Centers Price Performance

NYSE SITC traded up $0.18 on Thursday, reaching $14.28. The company’s stock had a trading volume of 1,040,301 shares, compared to its average volume of 1,918,607. SITE Centers Corp. has a twelve month low of $10.88 and a twelve month high of $14.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.54 and a current ratio of 3.54. The firm’s 50 day moving average is $14.14 and its two-hundred day moving average is $13.96. The stock has a market cap of $2.99 billion, a PE ratio of 13.95 and a beta of 1.63.

SITE Centers Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.64%. The ex-dividend date is Tuesday, June 18th. SITE Centers’s dividend payout ratio is presently 50.98%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Chilton Capital Management LLC raised its holdings in SITE Centers by 384.0% during the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after buying an additional 1,536 shares during the period. GAMMA Investing LLC purchased a new stake in shares of SITE Centers in the 4th quarter valued at approximately $30,000. Lindbrook Capital LLC boosted its stake 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 purchasing an additional 1,218 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in SITE Centers during the 1st quarter worth approximately $147,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in SITE Centers during the 4th quarter valued at $159,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.