SITE Centers Corp. (NASDAQ:SITC) Director Alexander Otto Sells 113,100 Shares

SITE Centers Corp. (NASDAQ:SITC) Director Alexander Otto sold 113,100 shares of SITE Centers stock in a transaction that occurred on Tuesday, December 29th. The stock was sold at an average price of $10.29, for a total transaction of $1,163,799.00. Following the completion of the transaction, the director now directly owns 30,237,418 shares in the company, valued at approximately $311,143,031.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alexander Otto also recently made the following trade(s):

  • On Thursday, December 24th, Alexander Otto sold 25,410 shares of SITE Centers stock. The stock was sold at an average price of $10.21, for a total transaction of $259,436.10.
  • On Tuesday, December 22nd, Alexander Otto sold 1,988 shares of SITE Centers stock. The stock was sold at an average price of $10.20, for a total transaction of $20,277.60.
  • On Thursday, December 17th, Alexander Otto sold 150,000 shares of SITE Centers stock. The shares were sold at an average price of $10.45, for a total transaction of $1,567,500.00.
  • On Friday, December 11th, Alexander Otto sold 119,600 shares of SITE Centers stock. The stock was sold at an average price of $10.23, for a total transaction of $1,223,508.00.
  • On Tuesday, December 15th, Alexander Otto sold 479,314 shares of SITE Centers stock. The stock was sold at an average price of $10.29, for a total transaction of $4,932,141.06.
  • On Wednesday, December 9th, Alexander Otto sold 456,494 shares of SITE Centers stock. The stock was sold at an average price of $10.40, for a total transaction of $4,747,537.60.
  • On Monday, December 7th, Alexander Otto sold 145,025 shares of SITE Centers stock. The stock was sold at an average price of $10.29, for a total transaction of $1,492,307.25.
  • On Thursday, December 3rd, Alexander Otto sold 180,276 shares of SITE Centers stock. The stock was sold at an average price of $10.44, for a total transaction of $1,882,081.44.

SITC stock opened at $10.12 on Friday. SITE Centers Corp. has a 1 year low of $3.60 and a 1 year high of $14.07. The company has a fifty day simple moving average of $10.24 and a 200 day simple moving average of $8.23. The firm has a market cap of $1.96 billion and a PE ratio of 92.00.

SITE Centers (NASDAQ:SITC) last released its earnings results on Sunday, November 1st. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.22). The business had revenue of $95.94 million for the quarter, compared to analysts’ expectations of $101.97 million. SITE Centers’s revenue was down 12.5% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share.

A number of institutional investors have recently added to or reduced their stakes in SITC. Great West Life Assurance Co. Can lifted its position in SITE Centers by 7,515.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 13,440,132 shares of the company’s stock worth $21,280,000 after acquiring an additional 13,263,657 shares during the last quarter. Heitman Real Estate Securities LLC lifted its position in SITE Centers by 181.1% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 3,709,937 shares of the company’s stock worth $26,712,000 after acquiring an additional 2,389,937 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in SITE Centers during the 3rd quarter worth $15,233,000. JPMorgan Chase & Co. increased its holdings in shares of SITE Centers by 229.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,795,302 shares of the company’s stock worth $20,070,000 after purchasing an additional 1,946,342 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of SITE Centers by 226.9% during the 2nd quarter. Prudential Financial Inc. now owns 1,710,347 shares of the company’s stock worth $13,854,000 after purchasing an additional 1,187,108 shares during the period.

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of SITE Centers from $8.20 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 3rd. Wells Fargo & Company upgraded shares of SITE Centers from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $11.50 in a report on Thursday, December 10th. Truist boosted their price target on shares of SITE Centers from $7.00 to $10.00 in a report on Friday, December 11th. BidaskClub cut shares of SITE Centers from a “hold” rating to a “sell” rating in a report on Sunday, November 1st. Finally, Compass Point upgraded shares of SITE Centers from a “sell” rating to a “neutral” rating in a report on Monday, November 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $9.45.

SITE Centers Company Profile

SITE Centers 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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Insider Buying and Selling by Quarter for SITE Centers (NASDAQ:SITC)

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