Chicago Equity Partners LLC purchased a new stake in shares of SITE Centers Corp. (NASDAQ:SITC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,640 shares of the company’s stock, valued at approximately $173,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in SITE Centers during the fourth quarter valued at $732,000. Virtu Financial LLC bought a new position in SITE Centers during the fourth quarter valued at $140,000. Meeder Asset Management Inc. bought a new position in SITE Centers during the fourth quarter valued at $28,000. Nisa Investment Advisors LLC bought a new position in SITE Centers during the fourth quarter valued at $879,000. Finally, Bank of Montreal Can bought a new position in SITE Centers during the fourth quarter valued at $2,080,000.
In related news, CEO David R. Lukes purchased 15,000 shares of the business’s stock in a transaction dated Monday, December 31st. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $165,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of SITE Centers from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th. Mizuho upgraded shares of SITE Centers from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $14.00 in a research report on Wednesday, January 23rd. Finally, Capital One Financial upgraded shares of SITE Centers from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 30th.
NASDAQ SITC opened at $13.30 on Friday. SITE Centers Corp. has a 12 month low of $10.71 and a 12 month high of $15.07.
SITE Centers (NASDAQ:SITC) last posted its quarterly earnings results on Wednesday, February 20th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The company had revenue of $121.50 million during the quarter, compared to the consensus estimate of $128.54 million. The business’s revenue was down 42.0% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date is Thursday, March 14th.
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SITE Centers Company Profile
SITE 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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