State of Alaska Department of Revenue Has $2.73 Million Stake in SITE Centers Corp. (NYSE:SITC)

State of Alaska Department of Revenue trimmed its stake in shares of SITE Centers Corp. (NYSE:SITCFree Report) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,354 shares of the company’s stock after selling 2,179 shares during the period. State of Alaska Department of Revenue owned about 0.10% of SITE Centers worth $2,730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of SITE Centers by 3.2% during the second quarter. BlackRock Inc. now owns 31,300,452 shares of the company’s stock worth $413,792,000 after acquiring an additional 970,444 shares during the period. Vanguard Group Inc. grew its position in SITE Centers by 1.1% in the third quarter. Vanguard Group Inc. now owns 31,084,808 shares of the company’s stock valued at $332,918,000 after purchasing an additional 344,501 shares in the last quarter. JPMorgan Chase & Co. grew its position in SITE Centers by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 18,476,250 shares of the company’s stock valued at $227,812,000 after purchasing an additional 384,823 shares in the last quarter. FMR LLC grew its position in SITE Centers by 21.6% in the third quarter. FMR LLC now owns 16,126,938 shares of the company’s stock valued at $198,845,000 after purchasing an additional 2,861,012 shares in the last quarter. Finally, State Street Corp grew its position in SITE Centers by 1.4% in the third 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 in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wolfe Research downgraded shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Piper Sandler decreased their target price on shares of SITE Centers from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $15.50 price objective on shares of SITE Centers in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, SITE Centers presently has an average rating of “Hold” and a consensus price target of $14.25.

Get Our Latest Research Report on SITC

SITE Centers Stock Performance

Shares of SITC opened at $14.09 on Thursday. The firm has a 50-day moving average of $13.97 and a 200-day moving average of $13.31. SITE Centers Corp. has a one year low of $10.88 and a one year high of $14.71. The company has a market cap of $2.95 billion, a PE ratio of 11.64 and a beta of 1.58. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.24 and a quick ratio of 3.24.

SITE Centers (NYSE:SITCGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The company had revenue of $123.20 million during the quarter, compared to the consensus estimate of $127.81 million. During the same quarter last year, the firm posted $0.29 EPS. The company’s quarterly revenue was down 9.7% on a year-over-year basis. As a group, equities analysts forecast that SITE Centers Corp. will post 0.94 earnings per share for the current year.

SITE Centers Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Thursday, March 14th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, March 13th. SITE Centers’s payout ratio is 42.98%.

SITE Centers Company Profile

(Free Report)

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

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