Commonwealth Bank of Australia purchased a new stake in shares of SITE Centers Corp. (NASDAQ:SITC) during the 4th quarter, HoldingsChannel reports. The fund purchased 6,400 shares of the company’s stock, valued at approximately $70,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Presima Inc. acquired a new position in shares of SITE Centers during the fourth quarter valued at $1,176,000. Frontier Capital Management Co. LLC acquired a new position in shares of SITE Centers during the fourth quarter valued at $27,546,000. Victory Capital Management Inc. acquired a new position in shares of SITE Centers during the fourth quarter valued at $39,352,000. SG Americas Securities LLC acquired a new position in shares of SITE Centers during the fourth quarter valued at $1,071,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of SITE Centers during the fourth quarter valued at $732,000.

In related news, CEO David R. Lukes bought 15,000 shares of the business’s stock in a transaction on Monday, December 31st. The shares were purchased at an average price of $11.00 per share, with a total value of $165,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NASDAQ:SITC opened at $12.99 on Thursday. SITE Centers Corp. has a 1-year low of $10.71 and a 1-year high of $15.07.

SITE Centers (NASDAQ:SITC) last released its earnings results on Wednesday, February 20th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $121.50 million during the quarter, compared to analyst estimates of $128.54 million. SITE Centers’s revenue for the quarter was down 42.0% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.16%. The ex-dividend date is Thursday, March 14th.

Several brokerages have recently issued reports on SITC. TheStreet raised SITE Centers from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Zacks Investment Research lowered SITE Centers from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. Mizuho raised SITE Centers from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $14.00 in a research note on Wednesday, January 23rd. Finally, Capital One Financial raised SITE Centers from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 30th.

TRADEMARK VIOLATION WARNING: This report was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2019/03/21/commonwealth-bank-of-australia-acquires-new-position-in-site-centers-corp-sitc.html.

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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Institutional Ownership by Quarter for SITE Centers (NASDAQ:SITC)

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