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.

Separately, TheStreet upgraded SITE Centers from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st.

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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Earnings History and Estimates for SITE Centers (NASDAQ:SITC)

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