TCW Group Inc. Has $1.67 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

TCW Group Inc. cut its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 17.1% in the fourth quarter, HoldingsChannel reports. The fund owned 122,282 shares of the company’s stock after selling 25,154 shares during the quarter. TCW Group Inc.’s holdings in SITE Centers were worth $1,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of SITE Centers by 9.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,540 shares of the company’s stock valued at $192,000 after buying an additional 1,304 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in SITE Centers by 2.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 204,854 shares of the company’s stock valued at $2,526,000 after purchasing an additional 4,554 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in SITE Centers in the third quarter valued at about $1,283,000. New York State Common Retirement Fund increased its position in SITE Centers by 10.1% in the 3rd quarter. New York State Common Retirement Fund now owns 78,656 shares of the company’s stock worth $970,000 after purchasing an additional 7,238 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of SITE Centers during the 3rd quarter worth about $1,178,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reissued an “overweight” rating and issued a $15.50 price target on shares of SITE Centers in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, SITE Centers presently has a consensus rating of “Hold” and an average price target of $14.25.

SITE Centers Stock Up 0.2 %

SITE Centers stock traded up $0.03 during mid-day trading on Friday, hitting $14.21. 1,312,936 shares of the company’s stock were exchanged, compared to its average volume of 1,734,631. SITE Centers Corp. has a 1-year low of $10.88 and a 1-year high of $14.71. The stock has a 50 day moving average of $13.99 and a two-hundred day moving average of $13.77. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 0.80. The stock has a market cap of $2.98 billion, a P/E ratio of 13.93 and a beta of 1.60.

SITE Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Tuesday, June 18th. SITE Centers’s dividend payout ratio is 50.98%.

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.