Strs Ohio Sells 123,700 Shares of SITE Centers Corp. (NYSE:SITC)

Strs Ohio trimmed its position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,383 shares of the company's stock after selling 123,700 shares during the quarter. Strs Ohio owned 0.10% of SITE Centers worth $2,976,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SITC. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of SITE Centers by 4.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 212,045 shares of the company's stock valued at $2,890,000 after purchasing an additional 8,110 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of SITE Centers during the 4th quarter worth approximately $1,228,000. New York State Teachers Retirement System grew its holdings in shares of SITE Centers by 2.3% in the 4th quarter. New York State Teachers Retirement System now owns 111,329 shares of the company's stock worth $1,517,000 after acquiring an additional 2,499 shares during the period. Pensionfund DSM Netherlands purchased a new position in SITE Centers in the 4th quarter valued at approximately $273,000. Finally, Public Employees Retirement System of Ohio raised its holdings in SITE Centers by 6.7% during the third quarter. Public Employees Retirement System of Ohio now owns 261,798 shares of the company's stock worth $3,228,000 after purchasing an additional 16,330 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

SITE Centers Trading Up 0.7 %

Shares of NYSE:SITC traded up $0.10 during midday trading on Friday, reaching $13.65. The company's stock had a trading volume of 1,383,096 shares, compared to its average volume of 2,090,670. SITE Centers Corp. has a 1 year low of $10.88 and a 1 year high of $14.71. The business has a 50 day moving average price of $14.02 and a 200 day moving average price of $13.38. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 11.20 and a beta of 1.58.

SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.66. The business had revenue of $123.20 million for the quarter, compared to analyst estimates of $127.81 million. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The business's quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Research analysts forecast that SITE Centers Corp. will post 0.94 EPS for the current year.

SITE Centers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 14th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.52 annualized dividend and a yield of 3.81%. SITE Centers's dividend payout ratio (DPR) is 42.98%.

Analyst Ratings Changes

A number of brokerages recently commented on SITC. Wolfe Research cut shares of SITE Centers from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 5th. Wells Fargo & Company reissued an "overweight" rating and set a $15.50 price target on shares of SITE Centers in a research report on Monday, April 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.