Brokerages Expect SITE Centers Corp. (SITC) to Announce $0.31 Earnings Per Share

Shares of SITE Centers Corp. (NASDAQ:SITC) have earned a consensus broker rating score of 3.00 (Hold) from the fifteen brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong sell rating, one has assigned a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. SITE Centers’ rating score has improved by 4.2% in the last 90 days as a result of a number of analysts’ ratings changes.

Analysts have set a one year consensus target price of $13.71 for the company and are anticipating that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also assigned SITE Centers an industry rank of 187 out of 256 based on the ratings given to related companies.

Separately, Capital One Financial raised shares of SITE Centers from an “equal weight” rating to an “overweight” rating in a report on Friday, November 30th.

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

Shares of NASDAQ SITC opened at $11.68 on Wednesday. SITE Centers has a 52-week low of $10.71 and a 52-week high of $15.07.

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

The company also recently declared a quarterly dividend, which was paid on Friday, January 4th. Shareholders of record on Friday, December 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 6.85%.

SITE Centers Company Profile

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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