Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of SITE Centers Corp. (NYSE:SITC – Get Rating) by 14.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,665 shares of the company's stock after purchasing an additional 2,637 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in SITE Centers were worth $278,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SITC. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of SITE Centers by 602.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,719,074 shares of the company's stock worth $28,726,000 after buying an additional 1,474,513 shares during the period. State Street Corp raised its position in shares of SITE Centers by 12.9% in the 1st quarter. State Street Corp now owns 10,803,754 shares of the company's stock worth $181,908,000 after buying an additional 1,234,412 shares during the period. Millennium Management LLC raised its position in shares of SITE Centers by 133.4% in the 4th quarter. Millennium Management LLC now owns 2,015,630 shares of the company's stock worth $31,907,000 after buying an additional 1,152,078 shares during the period. Goldman Sachs Group Inc. raised its position in shares of SITE Centers by 16.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,159,008 shares of the company's stock worth $129,157,000 after buying an additional 1,126,689 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in shares of SITE Centers by 558.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 765,591 shares of the company's stock worth $12,119,000 after buying an additional 649,377 shares during the period. Hedge funds and other institutional investors own 87.89% of the company's stock.
Get SITE Centers alerts:Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SITC. Mizuho raised SITE Centers from a "neutral" rating to a "buy" rating and increased their target price for the stock from $15.00 to $17.00 in a research report on Tuesday, August 16th. Jefferies Financial Group lowered their price target on SITE Centers from $17.00 to $13.00 and set a "hold" rating for the company in a report on Thursday, June 30th. StockNews.com upgraded SITE Centers from a "sell" rating to a "hold" rating in a report on Tuesday, August 9th. KeyCorp lowered their price target on SITE Centers from $19.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, June 28th. Finally, Morgan Stanley lowered their price target on SITE Centers from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Friday, July 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.83.
SITE Centers Stock Performance
NYSE:SITC opened at $11.30 on Monday. The firm has a market capitalization of $2.42 billion, a P/E ratio of 16.14 and a beta of 1.51. SITE Centers Corp. has a one year low of $11.16 and a one year high of $17.61. The stock has a 50-day moving average price of $13.48. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.97.SITE Centers Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Tuesday, September 20th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, September 19th. This represents a $0.52 dividend on an annualized basis and a yield of 4.60%. SITE Centers's dividend payout ratio (DPR) is 74.29%.
About SITE Centers
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SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.
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