Cedar Brook Financial Partners LLC lifted its position in SITE Centers Corp. (NASDAQ:SITC) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,117 shares of the company’s stock after buying an additional 1,531 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in SITE Centers were worth $546,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in SITC. Cohen & Steers Inc. acquired a new position in SITE Centers during the fourth quarter worth $335,023,000. Daiwa Securities Group Inc. acquired a new position in SITE Centers during the fourth quarter worth $138,375,000. BlackRock Inc. acquired a new position in SITE Centers during the fourth quarter worth $130,468,000. FMR LLC acquired a new position in SITE Centers during the fourth quarter worth $63,775,000. Finally, LSV Asset Management grew its holdings in shares of SITE Centers by 0.6% during the first quarter. LSV Asset Management now owns 5,231,774 shares of the company’s stock worth $71,256,000 after purchasing an additional 29,350 shares during the last quarter.
Separately, TheStreet upgraded SITE Centers from a “d+” rating to a “c-” rating in a report on Thursday, February 21st.
Shares of SITC stock traded up $0.02 during trading hours on Friday, hitting $13.42. 581,610 shares of the company’s stock were exchanged, compared to its average volume of 980,623. SITE Centers Corp. has a 52 week low of $10.71 and a 52 week high of $15.07.
SITE Centers (NASDAQ:SITC) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $113.69 million during the quarter, compared to the consensus estimate of $117.95 million. SITE Centers’s revenue was down 45.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Wednesday, June 12th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.96%. The ex-dividend date is Tuesday, June 11th.
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About SITE Centers
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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