Quadrature Capital Ltd Purchases Shares of 38,617 SITE Centers Corp. (NYSE:SITC)

Quadrature Capital Ltd purchased a new stake in shares of SITE Centers Corp. (NYSE:SITC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 38,617 shares of the company’s stock, valued at approximately $526,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SITC. GAMMA Investing LLC acquired a new position in SITE Centers during the fourth quarter valued at approximately $30,000. Lindbrook Capital LLC boosted 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 acquiring an additional 1,218 shares during the period. Evergreen Capital Management LLC boosted 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 acquiring an additional 828 shares during the period. Cornerstone Investment Partners LLC bought a new position in SITE Centers in the fourth quarter worth $159,000. Finally, Metis Global Partners LLC lifted its position in SITE Centers by 14.1% in the fourth quarter. Metis Global Partners LLC now owns 11,857 shares of the company’s stock worth $162,000 after purchasing an additional 1,462 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity

In other news, Director Alexander Otto sold 91,778 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $14.56, for a total value of $1,336,287.68. Following the completion of the sale, the director now directly owns 19,522,976 shares in the company, valued at $284,254,530.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. 10.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised their target price on SITE Centers from $15.50 to $16.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.38.

SITE Centers Stock Down 0.8 %

Shares of NYSE SITC opened at $14.34 on Friday. The stock has a market cap of $3.00 billion, a PE ratio of 14.06 and a beta of 1.63. The business has a fifty day moving average of $14.10 and a two-hundred day moving average of $13.94. SITE Centers Corp. has a 52-week low of $10.88 and a 52-week 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.

SITE Centers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.63%. SITE Centers’s dividend payout ratio (DPR) is presently 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.