SITE Centers Corp. (NYSE:SITC) Shares Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC raised its position in SITE Centers Corp. (NYSE:SITC) by 99.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,340 shares of the company’s stock after acquiring an additional 41,126 shares during the quarter. Wolverine Asset Management LLC’s holdings in SITE Centers were worth $1,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SITC. GAMMA Investing LLC purchased a new stake in SITE Centers during the fourth quarter worth $30,000. Handelsbanken Fonder AB lifted its holdings in SITE Centers by 19.8% during the 4th quarter. Handelsbanken Fonder AB now owns 36,880 shares of the company’s stock worth $503,000 after buying an additional 6,100 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of SITE Centers by 24.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,493 shares of the company’s stock worth $443,000 after purchasing an additional 6,480 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in SITE Centers by 78.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 223,967 shares of the company’s stock valued at $3,053,000 after acquiring an additional 98,740 shares during the period. Finally, Lindbrook Capital LLC increased its position in shares of SITE Centers by 30.4% during 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 during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Down 1.1 %

Shares of SITC opened at $13.62 on Friday. The company has a market capitalization of $2.85 billion, a P/E ratio of 11.25 and a beta of 1.58. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.24 and a quick ratio of 3.24. SITE Centers Corp. has a one year low of $10.88 and a one year high of $14.71. The business’s 50 day simple moving average is $13.99 and its 200-day simple moving average is $13.45.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.66. The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. SITE Centers had a return on equity of 14.00% and a net margin of 49.25%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. As a group, sell-side analysts predict that SITE Centers Corp. will post 0.89 EPS for the current fiscal year.

SITE Centers Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 14th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Wednesday, March 13th. SITE Centers’s dividend payout ratio is currently 42.98%.

Analyst Ratings Changes

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

SITE Centers Company 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.