Alexander Otto Sells 82,984 Shares of SITE Centers Corp. (NYSE:SITC) Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 82,984 shares of SITE Centers stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $14.40, for a total transaction of $1,194,969.60. Following the completion of the sale, the director now directly owns 18,544,314 shares in the company, valued at approximately $267,038,121.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Alexander Otto also recently made the following trade(s):

• 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 transaction 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 transaction of $2,745,158.12.
• 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 shares were sold at an average price of $14.56, for a total transaction of $1,336,287.68.

SITE Centers Stock Down 0.2 %

Shares of NYSE:SITC opened at $14.10 on Thursday. SITE Centers Corp. has a 52-week low of $10.88 and a 52-week high of $14.88. The firm has a fifty day moving average of $14.14 and a 200 day moving average of $13.96. The firm has a market capitalization of $2.95 billion, a PE ratio of 13.82 and a beta of 1.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.54 and a current ratio of 3.54.

SITE Centers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.52 annualized dividend and a yield of 3.69%. SITE Centers’s dividend payout ratio (DPR) is presently 50.98%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in SITE Centers by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 131,109 shares of the company’s stock worth $1,921,000 after acquiring an additional 6,943 shares in the last quarter. Long Pond Capital LP grew its position in SITE Centers by 403.8% in the first quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock worth $84,885,000 after acquiring an additional 4,644,142 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in SITE Centers by 5.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 447,965 shares of the company’s stock worth $6,556,000 after acquiring an additional 22,008 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in SITE Centers in the first quarter worth $147,000. Finally, ProShare Advisors LLC boosted its position in SITE Centers by 7.4% during the first quarter. ProShare Advisors LLC now owns 38,210 shares of the company’s stock valued at $560,000 after buying an additional 2,647 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their price target on shares of SITE Centers from $15.50 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.38.

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.