Texas Permanent School Fund Lowers Holdings in SITE Centers Corp. (NYSE:SITC)

Posted by on May 13th, 2023

Texas Permanent School Fund decreased its holdings in SITE Centers Corp. (NYSE:SITC – Get Rating) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,296 shares of the company’s stock after selling 9,628 shares during the period. Texas Permanent School Fund owned about 0.06% of SITE Centers worth $1,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC grew its holdings in SITE Centers by 338.0% during the third quarter. CWM LLC now owns 2,501 shares of the company’s stock valued at $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 in the third quarter worth about $41,000. Lazard Asset Management LLC purchased a new stake in shares of SITE Centers in the first quarter worth about $76,000. Quadrant Capital Group LLC lifted its position in shares of SITE Centers by 365.5% in the third quarter. Quadrant Capital Group LLC now owns 7,197 shares of the company’s stock worth $77,000 after buying an additional 5,651 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of SITE Centers by 17.5% in the third quarter. Truist Financial Corp now owns 12,260 shares of the company’s stock worth $131,000 after buying an additional 1,827 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $11.69 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.95. The company has a market cap of $2.45 billion, a P/E ratio of 15.59 and a beta of 1.53. SITE Centers Corp. has a 52 week low of $10.42 and a 52 week high of $16.09. The company has a 50-day moving average price of $12.02 and a 200 day moving average price of $12.82.

SITE Centers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Wednesday, June 14th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.52 dividend on an annualized basis and a yield of 4.45%. SITE Centers’s dividend payout ratio (DPR) is presently 69.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SITC shares. Mizuho boosted their price objective on SITE Centers from $13.00 to $14.00 in a research note on Wednesday, March 1st. StockNews.com started coverage on SITE Centers in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Seven 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.com, the company has a consensus rating of “Hold” and an average target price of $14.56.

SITE Centers Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding SITC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SITE Centers Corp. (NYSE:SITC – Get Rating).

Institutional Ownership by Quarter for SITE Centers (NYSE:SITC)

Receive News & Ratings for SITE Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITE Centers and related companies with MarketBeat.com's FREE daily email newsletter.