Pensionfund DSM Netherlands Purchases 10,000 Shares of SITE Centers Corp. (NYSE:SITC)

Pensionfund DSM Netherlands boosted its position in shares of SITE Centers Corp. (NYSE:SITC) by 50.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,000 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in SITE Centers were worth $440,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in SITE Centers during the fourth quarter valued at about $30,000. Lindbrook Capital LLC lifted its holdings in SITE Centers by 30.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after purchasing an additional 1,218 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of SITE Centers by 6.9% in the third quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock worth $159,000 after purchasing an additional 828 shares during the period. Cornerstone Investment Partners LLC purchased a new stake in shares of SITE Centers in the fourth quarter worth $159,000. Finally, Metis Global Partners LLC increased its stake in shares of SITE Centers by 14.1% in the fourth quarter. Metis Global Partners LLC now owns 11,857 shares of the company’s stock worth $162,000 after purchasing an additional 1,462 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

SITE Centers Price Performance

SITC traded down $0.16 during trading hours on Tuesday, hitting $14.36. The company’s stock had a trading volume of 1,029,239 shares, compared to its average volume of 1,911,732. SITE Centers Corp. has a 12 month low of $10.88 and a 12 month high of $14.88. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $14.07 and its 200-day moving average price is $13.93. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 14.08 and a beta of 1.63.

SITE Centers Announces Dividend

The firm also recently declared 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. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Tuesday, June 18th. SITE Centers’s payout ratio is 50.98%.

Insider Buying and Selling

In related news, Director Alexander Otto sold 242,573 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $14.71, for a total value of $3,568,248.83. Following the completion of the sale, the director now directly owns 19,071,327 shares in the company, valued at $280,539,220.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their target price on shares of SITE Centers from $15.50 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.