Legal & General Group Plc Reduces Holdings in Site Centers Corp. $SITC

Legal & General Group Plc cut its position in Site Centers Corp. (NYSE:SITC) by 52.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,817 shares of the company’s stock after selling 160,481 shares during the quarter. Legal & General Group Plc owned 0.28% of Site Centers worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SITC. GAMMA Investing LLC lifted its holdings in Site Centers by 275.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock worth $27,000 after buying an additional 1,764 shares in the last quarter. AlphaQuest LLC increased its position in shares of Site Centers by 256.7% during the first quarter. AlphaQuest LLC now owns 4,848 shares of the company’s stock worth $62,000 after acquiring an additional 3,489 shares during the last quarter. Covestor Ltd lifted its stake in shares of Site Centers by 61.7% in the first quarter. Covestor Ltd now owns 6,072 shares of the company’s stock worth $78,000 after acquiring an additional 2,316 shares in the last quarter. Strs Ohio acquired a new position in shares of Site Centers in the first quarter worth about $114,000. Finally, Savant Capital LLC purchased a new position in Site Centers in the second quarter valued at about $119,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research report on Monday. Wall Street Zen cut shares of Site Centers from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Piper Sandler reduced their price objective on shares of Site Centers from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, LADENBURG THALM/SH SH started coverage on shares of Site Centers in a research report on Tuesday, September 9th. They issued a “neutral” rating and a $10.00 target price for the company. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Site Centers presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Site Centers Stock Up 1.8%

Shares of NYSE:SITC opened at $7.24 on Wednesday. The company’s fifty day moving average is $7.85 and its two-hundred day moving average is $9.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 1.59. Site Centers Corp. has a 1-year low of $6.76 and a 1-year high of $15.93. The stock has a market capitalization of $379.82 million, a price-to-earnings ratio of 12.93 and a beta of 1.09.

Site Centers Dividend Announcement

The business also recently announced a special dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $1.00 dividend. The ex-dividend date is Monday, December 15th. Site Centers’s payout ratio is presently 92.86%.

Site Centers 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.