Site Centers (NYSE:SITC) Issues Earnings Results

Site Centers (NYSE:SITC) posted its quarterly earnings data on Monday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04, reports. Site Centers had a return on equity of 40.51% and a net margin of 334.85%. The business had revenue of $4.47 million during the quarter, compared to the consensus estimate of $5.70 million.

Site Centers Stock Down 1.2%

Shares of NYSE SITC traded down $0.04 during trading on Wednesday, reaching $3.62. The company had a trading volume of 5,904,568 shares, compared to its average volume of 1,114,877. Site Centers has a 12-month low of $2.80 and a 12-month high of $7.49. The stock has a market cap of $190.20 million, a PE ratio of 1.49 and a beta of 0.96. The business’s 50-day moving average is $3.20 and its 200 day moving average is $4.67.

Site Centers Dividend Announcement

The business also recently announced a special dividend, which will be paid on Thursday, November 5th. Shareholders of record on Tuesday, October 27th will be issued a $3.00 dividend.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Zacks Research lowered shares of Site Centers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a report on Monday, September 21st. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Site Centers has an average rating of “Sell” and a consensus target price of $3.50.

About Site Centers

SITE Centers Corp. (NYSE: SITC) is a self-administered and self-managed real estate investment trust that owns, operates and leases open-air shopping centers in the United States. Its properties are generally located in suburban communities and are designed to serve everyday consumer needs.

The company’s portfolio includes grocery-anchored and other multi-tenant retail centers occupied by a mix of national, regional and local retailers, restaurants, service providers and other consumer-focused businesses.