SITE Centers Corp. (NYSE:SITC) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in SITE Centers Corp. (NYSE:SITC) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,045 shares of the company’s stock after buying an additional 8,110 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.10% of SITE Centers worth $2,890,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Evergreen Capital Management LLC lifted its holdings in shares of SITE Centers by 6.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock valued at $159,000 after buying an additional 828 shares during the period. Van ECK Associates Corp increased its stake in SITE Centers by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 22,324 shares of the company’s stock valued at $275,000 after purchasing an additional 925 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in SITE Centers by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 115,759 shares of the company’s stock valued at $1,427,000 after purchasing an additional 1,226 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in SITE Centers by 9.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,540 shares of the company’s stock valued at $192,000 after purchasing an additional 1,304 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in SITE Centers by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 108,830 shares of the company’s stock valued at $1,342,000 after purchasing an additional 1,746 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SITC. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $15.50 price objective on shares of SITE Centers in a research note on Monday, April 1st. Wolfe Research downgraded SITE Centers from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.25.

SITE Centers Stock Down 0.1 %

Shares of NYSE:SITC opened at $13.76 on Thursday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.81. SITE Centers Corp. has a 52-week low of $10.88 and a 52-week high of $14.71. The stock’s fifty day simple moving average is $14.00 and its 200-day simple moving average is $13.45. The company has a market capitalization of $2.88 billion, a P/E ratio of 11.37 and a beta of 1.58.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.66. SITE Centers had a return on equity of 14.00% and a net margin of 49.25%. The business had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. During the same period in the prior year, the business earned $0.29 earnings per share. The business’s revenue was down 9.7% on a year-over-year basis. As a group, equities research analysts forecast that SITE Centers Corp. will post 0.94 earnings per share for the current fiscal year.

SITE Centers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 14th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 3.78%. SITE Centers’s dividend payout ratio is currently 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.