Oppenheimer Asset Management Inc. Increases Position in SITE Centers Corp. (NYSE:SITC)

Posted by Defense World Staff on Feb 25th, 2023

Oppenheimer Asset Management Inc. boosted its holdings in SITE Centers Corp. (NYSE:SITC – Get Rating) by 4.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,786 shares of the company’s stock after purchasing an additional 1,169 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SITE Centers were worth $276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC grew its holdings in SITE Centers by 338.0% in the third quarter. CWM LLC now owns 2,501 shares of the company’s stock worth $27,000 after purchasing an additional 1,930 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in shares of SITE Centers during the third quarter valued at approximately $41,000. Lazard Asset Management LLC purchased a new stake in shares of SITE Centers during the first quarter valued at approximately $76,000. Quadrant Capital Group LLC grew its holdings in shares of SITE Centers by 365.5% during the third quarter. Quadrant Capital Group LLC now owns 7,197 shares of the company’s stock valued at $77,000 after buying an additional 5,651 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of SITE Centers by 17.5% during the third quarter. Truist Financial Corp now owns 12,260 shares of the company’s stock valued at $131,000 after buying an additional 1,827 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

SITE Centers Stock Down 0.7 %

Shares of SITE Centers stock opened at $13.52 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.89. SITE Centers Corp. has a twelve month low of $10.42 and a twelve month high of $17.22. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 18.27 and a beta of 1.55. The company’s 50 day moving average is $13.45 and its 200 day moving average is $12.85.

SITE Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Friday, March 17th will be given a $0.13 dividend. The ex-dividend date is Thursday, March 16th. This represents a $0.52 annualized dividend and a yield of 3.85%. SITE Centers’s payout ratio is presently 70.27%.

Analyst Ratings Changes

SITC has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of SITE Centers from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, December 2nd. Mizuho cut shares of SITE Centers from a “buy” rating to a “neutral” rating and cut their price target for the company from $14.00 to $13.00 in a report on Tuesday, January 10th. Finally, StockNews.com upgraded shares of SITE Centers from a “sell” rating to a “hold” rating in a report on Wednesday, January 18th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, SITE Centers currently has a consensus rating of “Hold” and a consensus price target of $14.85.

Insiders Place Their Bets

In other SITE Centers news, EVP John M. Cattonar sold 11,000 shares of the stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $13.61, for a total value of $149,710.00. Following the transaction, the executive vice president now directly owns 40,922 shares in the company, valued at $556,948.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.30% of the company’s stock.

About SITE Centers

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SITE Centers Corp. is a real estate investment trust, which engages in the acquisition, development, lease, and management of shopping centers. It operates through the Shopping Centers and Loan Investments segments. The company was founded in 1965 and is headquartered in Beachwood, OH.