Insider Selling: SITE Centers Corp. (NYSE:SITC) Director Sells $5,577,613.50 in Stock

SITE Centers Corp. (NYSE:SITC) Director Alexander Otto sold 384,663 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $14.50, for a total transaction of $5,577,613.50. Following the sale, the director now directly owns 17,727,526 shares of the company’s stock, valued at $257,049,127. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alexander Otto also recently made the following trade(s):

• On Wednesday, June 26th, Alexander Otto sold 228,042 shares of SITE Centers stock. The shares were sold at an average price of $14.11, for a total value of $3,217,672.62.
• On Thursday, June 20th, Alexander Otto sold 191,167 shares of SITE Centers stock. The stock was sold at an average price of $14.36, for a total value of $2,745,158.12.
• On Tuesday, June 18th, Alexander Otto sold 82,984 shares of SITE Centers stock. The stock was sold at an average price of $14.40, for a total value of $1,194,969.60.
• On Wednesday, June 12th, Alexander Otto sold 242,573 shares of SITE Centers stock. The shares were sold at an average price of $14.71, for a total transaction of $3,568,248.83.
• On Monday, June 10th, Alexander Otto sold 91,778 shares of SITE Centers stock. The stock was sold at an average price of $14.56, for a total transaction of $1,336,287.68.

SITE Centers Trading Up 1.6 %

SITC opened at $14.32 on Friday. The firm’s 50 day moving average is $14.16 and its 200-day moving average is $13.97. SITE Centers Corp. has a 52-week low of $10.88 and a 52-week high of $14.88. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $3.00 billion, a P/E ratio of 14.04 and a beta of 1.63.

SITE Centers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Tuesday, June 18th. SITE Centers’s dividend payout ratio (DPR) is 50.98%.

Hedge Funds Weigh In On SITE Centers

Institutional investors have recently added to or reduced their stakes in the company. Chilton Capital Management LLC increased its position in shares of SITE Centers by 384.0% during the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after acquiring an additional 1,536 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of SITE Centers in the 4th quarter valued at approximately $30,000. Lindbrook Capital LLC raised its position in shares of SITE Centers by 30.4% in the 4th 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. O Shaughnessy Asset Management LLC purchased a new position in shares of SITE Centers during the 1st quarter valued at approximately $147,000. Finally, Cornerstone Investment Partners LLC acquired a new position in SITE Centers during the 4th quarter worth $159,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their target price on shares of SITE Centers from $15.50 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Three investment 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 has an average rating of “Hold” and an average price target of $14.38.

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.