Cwm LLC Increases Holdings in SITE Centers Corp. (NYSE:SITC)

Cwm LLC boosted its holdings in shares of SITE Centers Corp. (NYSE:SITCGet Rating) by 338.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,501 shares of the company’s stock after acquiring an additional 1,930 shares during the quarter. Cwm LLC’s holdings in SITE Centers were worth $27,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in SITE Centers by 1.3% during the second quarter. BNP Paribas Arbitrage SA now owns 73,593 shares of the company’s stock worth $991,000 after acquiring an additional 966 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of SITE Centers by 3.3% in the second quarter. Alps Advisors Inc. now owns 37,123 shares of the company’s stock valued at $500,000 after buying an additional 1,178 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of SITE Centers by 0.4% in the second quarter. Public Sector Pension Investment Board now owns 336,450 shares of the company’s stock valued at $4,532,000 after buying an additional 1,360 shares in the last quarter. Creative Planning grew its stake in shares of SITE Centers by 6.1% in the second quarter. Creative Planning now owns 23,567 shares of the company’s stock valued at $317,000 after buying an additional 1,361 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in shares of SITE Centers by 2.0% in the second quarter. Maryland State Retirement & Pension System now owns 73,428 shares of the company’s stock valued at $989,000 after buying an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

SITE Centers Stock Performance

SITC opened at $12.88 on Friday. The stock has a market cap of $2.74 billion, a P/E ratio of 14.64 and a beta of 1.53. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50 day simple moving average is $13.30 and its 200 day simple moving average is $13.03. SITE Centers Corp. has a 1-year low of $10.42 and a 1-year high of $17.22.

SITE Centers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, December 8th. SITE Centers’s payout ratio is currently 59.09%.

Wall Street Analyst Weigh In

Several research firms recently commented on SITC. Evercore ISI lowered their target price on SITE Centers from $16.00 to $15.00 and set an “in-line” rating for the company in a research note on Tuesday, September 27th. Mizuho downgraded SITE Centers from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $13.00 in a report on Tuesday, January 10th. StockNews.com raised SITE Centers from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler decreased their price target on SITE Centers from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 7th. Finally, Truist Financial decreased their price target on SITE Centers from $15.00 to $14.00 and set a “hold” rating for the company in a report on Friday, December 2nd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.85.

Insider Activity at SITE Centers

In related news, EVP John M. Cattonar sold 11,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $13.61, for a total value of $149,710.00. Following the sale, the executive vice president now owns 40,922 shares of the company’s stock, valued at approximately $556,948.42. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.80% of the stock is owned by corporate insiders.

About SITE Centers

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SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.

See Also

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

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