Virtu Financial LLC acquired a new position in SITE Centers Corp. (NYSE:SITC – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,625 shares of the company’s stock, valued at approximately $229,000.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in SITE Centers by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 31,084,808 shares of the company’s stock valued at $332,918,000 after acquiring an additional 344,501 shares during the last quarter. State Street Corp boosted its position in shares of SITE Centers by 1.4% in the 3rd quarter. State Street Corp now owns 11,633,959 shares of the company’s stock valued at $126,055,000 after purchasing an additional 163,201 shares during the period. JPMorgan Chase & Co. raised its holdings in SITE Centers by 87.0% during the 4th quarter. JPMorgan Chase & Co. now owns 9,670,405 shares of the company’s stock worth $132,097,000 after buying an additional 4,499,604 shares during the period. PGGM Investments lifted its stake in SITE Centers by 37.9% during the fourth quarter. PGGM Investments now owns 7,272,691 shares of the company’s stock valued at $99,345,000 after buying an additional 1,998,781 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of SITE Centers by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 3,907,793 shares of the company’s stock worth $53,380,000 after buying an additional 106,439 shares during the period. 88.61% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently commented on SITC shares. Wells Fargo & Company began coverage on shares of SITE Centers in a research note on Tuesday, May 23rd. They issued an “equal weight” rating and a $12.50 price objective for the company. StockNews.com cut SITE Centers from a “hold” rating to a “sell” rating in a research note on Wednesday. Compass Point increased their price target on shares of SITE Centers from $13.00 to $14.50 in a research report on Wednesday. Finally, Mizuho lifted their price target on shares of SITE Centers from $12.00 to $15.00 in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.43.
SITE Centers Stock Up 0.1 %
SITE Centers (NYSE:SITC – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.27). SITE Centers had a net margin of 31.11% and a return on equity of 8.90%. The firm had revenue of $136.00 million during the quarter, compared to analyst estimates of $136.16 million. During the same quarter last year, the firm earned $0.31 earnings per share. SITE Centers’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that SITE Centers Corp. will post 1.14 EPS for the current fiscal year.
SITE Centers Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Wednesday, June 14th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Tuesday, June 13th. SITE Centers’s dividend payout ratio (DPR) is presently 69.33%.
Insider Activity at SITE Centers
In related news, CFO Conor Fennerty sold 12,000 shares of SITE Centers stock in a transaction on Friday, June 16th. The stock was sold at an average price of $13.26, for a total transaction of $159,120.00. Following the completion of the sale, the chief financial officer now directly owns 97,364 shares of the company’s stock, valued at $1,291,046.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.90% of the stock is currently owned by company insiders.
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.
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