SITE Centers (NYSE:SITC) Price Target Raised to $16.00 at Wells Fargo & Company

SITE Centers (NYSE:SITCFree Report) had its price target upped by Wells Fargo & Company from $15.50 to $16.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

SITE Centers Stock Performance

SITE Centers stock opened at $14.20 on Tuesday. The stock has a market cap of $2.98 billion, a P/E ratio of 13.92 and a beta of 1.60. 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 50 day moving average of $13.98 and a 200-day moving average of $13.80. SITE Centers has a 52 week low of $10.88 and a 52 week high of $14.71.

SITE Centers Dividend Announcement

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

Hedge Funds Weigh In On SITE Centers

Several large investors have recently added to or reduced their stakes in the company. Chilton Capital Management LLC lifted its stake in SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock valued at $28,000 after buying an additional 1,536 shares during the last quarter. GAMMA Investing LLC bought a new stake in SITE Centers in the fourth quarter valued at $30,000. Lindbrook Capital LLC lifted its stake in SITE Centers by 30.4% in the fourth quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after buying an additional 1,218 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of SITE Centers during the first quarter valued at $147,000. Finally, Evergreen Capital Management LLC increased its holdings in shares of SITE Centers by 6.9% during the third quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock valued at $159,000 after purchasing an additional 828 shares during the period. 88.70% of the stock is currently owned by institutional investors.

About SITE Centers

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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.

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