TLP Group LLC bought a new stake in shares of SITE Centers Corp. (NASDAQ:SITC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,000 shares of the company’s stock, valued at approximately $108,000. SITE Centers makes up about 0.4% of TLP Group LLC’s portfolio, making the stock its 25th largest position.
Other institutional investors have also made changes to their positions in the company. Cohen & Steers Inc. acquired a new position in SITE Centers in the fourth quarter worth about $335,023,000. Daiwa Securities Group Inc. acquired a new position in SITE Centers in the fourth quarter worth about $138,375,000. BlackRock Inc. acquired a new position in SITE Centers in the fourth quarter worth about $130,468,000. LSV Asset Management acquired a new position in SITE Centers in the fourth quarter worth about $57,590,000. Finally, Victory Capital Management Inc. acquired a new position in SITE Centers in the fourth quarter worth about $39,352,000.
Shares of NASDAQ SITC opened at $13.03 on Friday. SITE Centers Corp. has a 52-week low of $10.71 and a 52-week high of $15.07.
SITE Centers (NASDAQ:SITC) last issued its earnings results on Wednesday, February 20th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The business had revenue of $121.50 million during the quarter, compared to the consensus estimate of $128.54 million. SITE Centers’s quarterly revenue was down 42.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 6.14%.
In other SITE Centers news, CEO David R. Lukes bought 15,000 shares of the business’s stock in a transaction on Monday, December 31st. The shares were purchased at an average price of $11.00 per share, with a total value of $165,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
SITC has been the subject of a number of research reports. Zacks Investment Research downgraded SITE Centers from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. Mizuho upgraded SITE Centers from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, January 23rd. Capital One Financial upgraded SITE Centers from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 30th. Finally, TheStreet upgraded SITE Centers from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st.
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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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