Site Centers Corp. (SITC) To Go Ex-Dividend on December 15th

Site Centers Corp. (NYSE:SITC) declared a special dividend on Thursday, December 4th. Investors of record on Monday, December 15th will be paid a dividend of 1.00 per share on Tuesday, December 30th. The ex-dividend date of this dividend is Monday, December 15th.

Site Centers has raised its dividend payment by an average of 0.7%annually over the last three years. Site Centers has a dividend payout ratio of -120.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Site Centers to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 56.5%.

Site Centers Stock Up 1.0%

Shares of NYSE:SITC opened at $7.30 on Friday. The company has a 50 day moving average price of $7.92 and a two-hundred day moving average price of $10.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market capitalization of $382.70 million, a PE ratio of 13.03 and a beta of 1.09. Site Centers has a 52 week low of $6.76 and a 52 week high of $15.93.

Institutional Investors Weigh In On Site Centers

Several institutional investors have recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Site Centers during the 1st quarter valued at approximately $6,360,000. Irenic Capital Management LP acquired a new stake in shares of Site Centers during the first quarter worth $18,911,000. Conversant Capital LLC increased its position in shares of Site Centers by 506.4% during the first quarter. Conversant Capital LLC now owns 1,940,579 shares of the company’s stock worth $24,917,000 after buying an additional 1,620,579 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Site Centers during the first quarter worth $897,000. Finally, Invesco Ltd. lifted its holdings in Site Centers by 3.9% in the first quarter. Invesco Ltd. now owns 2,203,583 shares of the company’s stock valued at $28,294,000 after buying an additional 82,469 shares during the period. Institutional investors own 88.70% of the company’s stock.

About Site Centers

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.