Vanguard Group Inc. Purchases 608,996 Shares of SITE Centers Corp. (NYSE:SITC)

Vanguard Group Inc. raised its position in shares of SITE Centers Corp. (NYSE:SITC) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 30,339,767 shares of the company’s stock after buying an additional 608,996 shares during the quarter. Vanguard Group Inc. owned approximately 0.14% of SITE Centers worth $413,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of SITE Centers during the 4th quarter valued at about $30,000. Lindbrook Capital LLC grew its stake in shares of SITE Centers by 30.4% during the 4th quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after purchasing an additional 1,218 shares during the period. Cornerstone Investment Partners LLC bought a new stake in shares of SITE Centers during the 4th quarter valued at about $159,000. Metis Global Partners LLC grew its stake in shares of SITE Centers by 14.1% during the 4th quarter. Metis Global Partners LLC now owns 11,857 shares of the company’s stock valued at $162,000 after acquiring an additional 1,462 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in shares of SITE Centers by 6.9% during the 3rd 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. 88.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SITE Centers news, Director Alexander Otto sold 384,663 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $14.50, for a total value of $5,577,613.50. Following the completion of the transaction, the director now directly owns 17,727,526 shares in the company, valued at approximately $257,049,127. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 993,165 shares of company stock worth $14,422,278 in the last three months. 10.10% of the stock is owned by company insiders.

SITE Centers Trading Down 0.2 %

Shares of NYSE:SITC opened at $14.10 on Thursday. The stock has a 50 day moving average of $14.14 and a 200 day moving average of $13.96. The company has a market cap of $2.95 billion, a PE ratio of 13.82 and a beta of 1.63. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.80. SITE Centers Corp. has a 12-month low of $10.88 and a 12-month high of $14.88.

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. The ex-dividend date is Tuesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.69%. SITE Centers’s dividend payout ratio (DPR) is presently 50.98%.

Analysts Set New Price Targets

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

SITE Centers 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.