Fisher Asset Management LLC Lowers Stock Position in SITE Centers Corp. (NYSE:SITC)

Fisher Asset Management LLC lowered its position in shares of SITE Centers Corp. (NYSE:SITC) by 22.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,320,974 shares of the company’s stock after selling 376,418 shares during the period. Fisher Asset Management LLC’s holdings in SITE Centers were worth $18,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of SITE Centers during the fourth quarter valued at $34,740,000. Dynamic Technology Lab Private Ltd bought a new position in shares of SITE Centers during the fourth quarter valued at $792,000. Invesco Ltd. increased its holdings in shares of SITE Centers by 36.0% during the third quarter. Invesco Ltd. now owns 781,459 shares of the company’s stock valued at $9,635,000 after acquiring an additional 206,827 shares in the last quarter. Assetmark Inc. increased its holdings in shares of SITE Centers by 3.5% during the fourth quarter. Assetmark Inc. now owns 86,650 shares of the company’s stock valued at $1,181,000 after acquiring an additional 2,958 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of SITE Centers by 13.7% during the third quarter. Hsbc Holdings PLC now owns 1,159,418 shares of the company’s stock valued at $14,327,000 after acquiring an additional 140,134 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Buying and Selling

In related news, Director Alexander Otto sold 242,573 shares of SITE Centers stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $14.71, for a total value of $3,568,248.83. Following the completion of the sale, the director now directly owns 19,071,327 shares in the company, valued at approximately $280,539,220.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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 report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.38.

SITE Centers Price Performance

NYSE SITC opened at $14.36 on Wednesday. SITE Centers Corp. has a one year low of $10.88 and a one year high of $14.88. The stock has a 50-day moving average of $14.07 and a 200 day moving average of $13.93. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 14.08 and a beta of 1.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.54 and a current ratio of 3.54.

SITE Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.52 annualized dividend and a yield of 3.62%. SITE Centers’s payout ratio is 50.98%.

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.