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

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 357,568 shares of the stock in a transaction dated 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 sale, the director now directly owns 16,582,983 shares in the company, valued at $238,629,125.37. The transaction was disclosed in a 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 shares were 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 shares were sold at an average price of $14.40, for a total transaction 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

SITE Centers stock opened at $14.46 on Wednesday. The company has a fifty day simple moving average of $14.20 and a 200-day simple moving average of $13.98. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 14.18 and a beta of 1.64. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.80. SITE Centers Corp. has a 52-week low of $10.88 and a 52-week high of $14.88.

SITE Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.52 dividend on an annualized basis and a yield of 3.60%. SITE Centers’s payout ratio is 50.98%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in SITE Centers during the fourth quarter worth approximately $34,740,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of SITE Centers during the 4th quarter valued at about $792,000. Invesco Ltd. grew its holdings in shares of SITE Centers by 36.0% in the third quarter. Invesco Ltd. now owns 781,459 shares of the company’s stock valued at $9,635,000 after purchasing an additional 206,827 shares during the period. Vanguard Group Inc. increased its position in SITE Centers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 30,339,767 shares of the company’s stock worth $413,531,000 after purchasing an additional 608,996 shares during the last quarter. Finally, Assetmark Inc. raised its stake in SITE Centers by 3.5% during the fourth quarter. Assetmark Inc. now owns 86,650 shares of the company’s stock worth $1,181,000 after purchasing an additional 2,958 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

SITE Centers Company 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.