SITE Centers Corp. (NYSE:SITC) Director Alexander Otto Sells 357,568 Shares of Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 357,568 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $14.39, for a total transaction of $5,145,403.52. Following the transaction, the director now owns 16,582,983 shares of the company’s stock, valued at approximately $238,629,125.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, June 26th, Alexander Otto sold 228,042 shares of SITE Centers stock. The stock was sold at an average price of $14.11, for a total value of $3,217,672.62.
• 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 shares were 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 stock was 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

Shares of NYSE:SITC opened at $14.36 on Tuesday. 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 twelve month low of $10.88 and a twelve month high of $14.88. The company’s 50 day moving average is $14.19 and its 200 day moving average is $13.98. The company has a market cap of $3.01 billion, a PE ratio of 14.08 and a beta of 1.63.

SITE Centers Announces Dividend

The firm also recently disclosed 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 is Tuesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.62%. SITE Centers’s payout ratio is currently 50.98%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chilton Capital Management LLC grew its position 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 purchasing an additional 1,536 shares during the period. GAMMA Investing LLC acquired a new stake in SITE Centers during the fourth quarter worth about $30,000. Lindbrook Capital LLC raised its position in SITE Centers by 30.4% during 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 in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in SITE Centers in the first quarter valued at approximately $147,000. Finally, Evergreen Capital Management LLC boosted its position in SITE Centers by 6.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock worth $159,000 after purchasing an additional 828 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.