Alexander Otto Sells 384,663 Shares of SITE Centers Corp. (NYSE:SITC) Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 384,663 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $14.50, for a total value of $5,577,613.50. Following the completion of the sale, the director now directly owns 17,727,526 shares of the company’s stock, valued at approximately $257,049,127. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, June 20th, Alexander Otto sold 191,167 shares of SITE Centers stock. The shares were sold at an average price of $14.36, for a total transaction of $2,745,158.12.
• On Tuesday, June 18th, Alexander Otto sold 82,984 shares of SITE Centers stock. The stock was sold at an average price of $14.40, for a total transaction 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 shares were sold at an average price of $14.56, for a total value of $1,336,287.68.

SITE Centers Trading Down 0.2 %

Shares of SITE Centers stock opened at $14.10 on Thursday. SITE Centers Corp. has a 1 year low of $10.88 and a 1 year high of $14.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.54 and a quick ratio of 3.54. The business has a 50 day moving average price of $14.14 and a 200 day moving average price of $13.96. The company has a market capitalization of $2.95 billion, a P/E ratio of 13.82 and a beta of 1.63.

SITE Centers Dividend Announcement

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

Analyst Ratings Changes

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

Institutional Trading of SITE Centers

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in SITE Centers in the 4th quarter valued at about $34,740,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of SITE Centers during the fourth quarter valued at approximately $792,000. Invesco Ltd. lifted its stake 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 buying an additional 206,827 shares during the period. Assetmark Inc. boosted its position in SITE Centers by 3.5% during the fourth quarter. Assetmark Inc. now owns 86,650 shares of the company’s stock worth $1,181,000 after acquiring an additional 2,958 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in SITE Centers in the 4th quarter worth approximately $1,228,000. 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.