Insider Selling: SITE Centers Corp. (NYSE:SITC) Director Sells $1,194,969.60 in Stock

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

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 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 Wednesday, June 12th, Alexander Otto sold 242,573 shares of SITE Centers stock. The stock was sold at an average price of $14.71, for a total value 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 value of $1,336,287.68.

SITE Centers Trading Down 0.2 %

NYSE SITC opened at $14.10 on Thursday. The stock has a 50-day simple moving average of $14.14 and a 200 day simple moving average of $13.96. The company has a market capitalization of $2.95 billion, a PE ratio of 13.82 and a beta of 1.63. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.80. SITE Centers Corp. has a 12 month low of $10.88 and a 12 month high of $14.88.

SITE Centers Dividend Announcement

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

Institutional Investors Weigh In On SITE Centers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITC. Chilton Capital Management LLC increased its holdings in SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock valued at $28,000 after purchasing an additional 1,536 shares during the last quarter. GAMMA Investing LLC acquired a new position in SITE Centers in the fourth quarter valued at about $30,000. Lindbrook Capital LLC grew its stake in SITE Centers by 30.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after acquiring an additional 1,218 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in SITE Centers in the first quarter valued at about $147,000. Finally, Evergreen Capital Management LLC grew its stake in SITE Centers by 6.9% in the third quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock valued at $159,000 after acquiring an additional 828 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

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

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.