SITE Centers Corp. (NYSE:SITC) Given Average Rating of “Hold” by Brokerages

SITE Centers Corp. (NYSE:SITC – Get Rating) has been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.15.

Several equities research analysts have commented on SITC shares. Wells Fargo & Company started coverage on shares of SITE Centers in a research note on Tuesday. They issued an “equal weight” rating and a $12.50 price target on the stock. Mizuho dropped their price target on shares of SITE Centers from $13.00 to $12.00 in a research note on Thursday. Finally, StockNews.com started coverage on shares of SITE Centers in a research note on Thursday, May 18th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On SITE Centers

A number of institutional investors have recently modified their holdings of SITC. PGGM Investments acquired a new stake in shares of SITE Centers in the 3rd quarter valued at $56,484,000. JPMorgan Chase & Co. increased its holdings in shares of SITE Centers by 87.0% during the 4th quarter. JPMorgan Chase & Co. now owns 9,670,405 shares of the company’s stock worth $132,097,000 after purchasing an additional 4,499,604 shares during the period. Norges Bank bought a new position in shares of SITE Centers during the 4th quarter worth about $35,855,000. Fisher Asset Management LLC bought a new position in shares of SITE Centers during the 4th quarter worth about $24,281,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of SITE Centers during the 1st quarter worth about $16,570,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

SITE Centers Stock Performance

Shares of NYSE SITC opened at $11.63 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $11.89 and its two-hundred day moving average price is $12.79. SITE Centers has a 52-week low of $10.42 and a 52-week high of $16.09. The stock has a market capitalization of $2.43 billion, a P/E ratio of 15.51 and a beta of 1.53.

SITE Centers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Wednesday, June 14th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, June 13th. SITE Centers’s dividend payout ratio (DPR) is currently 69.33%.

About SITE Centers

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SITE Centers Corp. is a real estate investment trust, which engages in the acquisition, development, lease, and management of shopping centers. It operates through the Shopping Centers and Loan Investments segments. The company was founded in 1965 and is headquartered in Beachwood, OH.