Analysts Expect SITE Centers Corp. (SITC) to Post $0.28 Earnings Per Share
Brokerages predict that SITE Centers Corp. (NASDAQ:SITC) will report earnings of $0.28 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for SITE Centers’ earnings, with estimates ranging from $0.26 to $0.30. SITE Centers reported earnings per share of $0.49 during the same quarter last year, which indicates a negative year over year growth rate of 42.9%. The business is expected to report its next quarterly earnings results on Wednesday, July 24th.
On average, analysts expect that SITE Centers will report full year earnings of $1.17 per share for the current fiscal year, with EPS estimates ranging from $1.14 to $1.20. For the next fiscal year, analysts anticipate that the company will post earnings of $1.17 per share, with EPS estimates ranging from $1.11 to $1.21. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow SITE Centers.
SITE Centers (NASDAQ:SITC) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $113.69 million for the quarter, compared to analysts’ expectations of $117.95 million. The company’s quarterly revenue was down 45.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS.
Several hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can grew its stake in shares of SITE Centers by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 121,406 shares of the company’s stock valued at $1,653,000 after purchasing an additional 917 shares during the last quarter. Cedar Brook Financial Partners LLC grew its stake in shares of SITE Centers by 4.0% in the 1st quarter. Cedar Brook Financial Partners LLC now owns 40,117 shares of the company’s stock valued at $546,000 after purchasing an additional 1,531 shares during the last quarter. Utah Retirement Systems grew its stake in shares of SITE Centers by 3.1% in the 1st quarter. Utah Retirement Systems now owns 55,383 shares of the company’s stock valued at $754,000 after purchasing an additional 1,665 shares during the last quarter. Arrow Investment Advisors LLC grew its stake in shares of SITE Centers by 6.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 33,427 shares of the company’s stock valued at $455,000 after purchasing an additional 1,931 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of SITE Centers by 8.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,200 shares of the company’s stock valued at $370,000 after purchasing an additional 2,162 shares during the last quarter.
Shares of SITC stock opened at $12.75 on Friday. SITE Centers has a twelve month low of $10.71 and a twelve month high of $15.07.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Wednesday, June 12th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.80 annualized dividend and a dividend yield of 6.27%.
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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