SITE Centers (SITC) Upgraded to Overweight by Capital One Financial

Capital One Financial upgraded shares of SITE Centers (NASDAQ:SITC) from an equal weight rating to an overweight rating in a research note released on Friday, Marketbeat reports.

Shares of NASDAQ SITC traded up $0.75 during trading hours on Friday, reaching $12.44. The stock had a trading volume of 3,384,360 shares, compared to its average volume of 2,392,276. SITE Centers has a 52-week low of $10.95 and a 52-week high of $15.08.

SITE Centers (NASDAQ:SITC) last announced its quarterly earnings results on Wednesday, October 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The company had revenue of $128.98 million during the quarter, compared to analysts’ expectations of $149.46 million. The business’s revenue for the quarter was down 41.4% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date is Thursday, December 13th.

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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