SITE Centers Corp. (NYSE:SITC) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its position in SITE Centers Corp. (NYSE:SITC) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 289,548 shares of the company’s stock after selling 5,235 shares during the period. Asset Management One Co. Ltd.’s holdings in SITE Centers were worth $4,031,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SITC. Invesco Ltd. lifted its position in shares of SITE Centers by 36.0% in the third quarter. Invesco Ltd. now owns 781,459 shares of the company’s stock valued at $9,635,000 after acquiring an additional 206,827 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of SITE Centers in the third quarter valued at $1,178,000. Hsbc Holdings PLC lifted its position in shares of SITE Centers by 13.7% in the third quarter. Hsbc Holdings PLC now owns 1,159,418 shares of the company’s stock valued at $14,327,000 after acquiring an additional 140,134 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of SITE Centers in the third quarter valued at $1,197,000. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 384,823 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SITC shares. Wolfe Research downgraded SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Piper Sandler reduced their target price on SITE Centers from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $15.50 target price on shares of SITE Centers in a research report on Monday, April 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.25.

SITE Centers Stock Performance

NYSE SITC opened at $13.88 on Friday. The business’s 50-day moving average price is $14.02 and its 200 day moving average price is $13.34. SITE Centers Corp. has a twelve month low of $10.88 and a twelve month high of $14.71. The company has a market capitalization of $2.91 billion, a PE ratio of 11.47 and a beta of 1.58. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.81.

SITE Centers (NYSE:SITC) last released its earnings results on Tuesday, February 13th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.66. The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. SITE Centers had a return on equity of 14.00% and a net margin of 49.25%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. On average, research analysts predict that SITE Centers Corp. will post 0.94 earnings per share for the current year.

SITE Centers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 14th were issued a $0.13 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.75%. SITE Centers’s dividend payout ratio (DPR) is 42.98%.

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.