Deutsche Bank AG reduced its holdings in SITE Centers Corp. (NYSE:SITC – Free Report) by 47.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,764 shares of the company’s stock after selling 169,849 shares during the quarter. Deutsche Bank AG owned 0.09% of SITE Centers worth $2,303,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of SITE Centers by 22.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,050 shares of the company’s stock worth $309,000 after buying an additional 4,538 shares during the period. Van ECK Associates Corp lifted its position in shares of SITE Centers by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 22,324 shares of the company’s stock valued at $275,000 after acquiring an additional 925 shares in the last quarter. Swiss National Bank boosted its stake in SITE Centers by 1.0% in the 3rd quarter. Swiss National Bank now owns 414,100 shares of the company’s stock worth $5,106,000 after purchasing an additional 4,000 shares during the period. Great Lakes Advisors LLC grew its position in SITE Centers by 24.9% during the 3rd quarter. Great Lakes Advisors LLC now owns 648,391 shares of the company’s stock worth $7,995,000 after purchasing an additional 129,195 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in SITE Centers during the 3rd quarter valued at $1,178,000. 91.87% of the stock is owned by institutional investors and hedge funds.
SITE Centers Stock Performance
Shares of SITC stock opened at $13.87 on Monday. SITE Centers Corp. has a fifty-two week low of $10.88 and a fifty-two week high of $14.71. The stock’s 50-day moving average is $13.75 and its two-hundred day moving average is $13.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market cap of $2.90 billion, a P/E ratio of 11.46 and a beta of 1.59.
SITE Centers Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Shareholders of record on Thursday, March 14th will be given a $0.13 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.75%. SITE Centers’s dividend payout ratio is currently 42.98%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SITC. Piper Sandler decreased their price objective on SITE Centers from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. Wolfe Research lowered shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Finally, Mizuho lowered their price objective on shares of SITE Centers from $15.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, December 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, SITE Centers presently has a consensus rating of “Hold” and a consensus price target of $14.13.
Get Our Latest Stock Analysis on SITE Centers
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.
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