SITE Centers Corp. (NASDAQ:SITC) – Equities researchers at Jefferies Financial Group dropped their Q1 2020 earnings per share (EPS) estimates for shares of SITE Centers in a report released on Tuesday, March 10th. Jefferies Financial Group analyst L. Tsai now expects that the company will post earnings per share of $0.27 for the quarter, down from their prior forecast of $0.28. Jefferies Financial Group also issued estimates for SITE Centers’ Q2 2020 earnings at $0.27 EPS, Q4 2020 earnings at $0.29 EPS, FY2020 earnings at $1.12 EPS, Q1 2021 earnings at $0.27 EPS, Q2 2021 earnings at $0.27 EPS and FY2022 earnings at $1.21 EPS.
SITE Centers (NASDAQ:SITC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.23). The company had revenue of $111.79 million during the quarter, compared to analyst estimates of $111.53 million. During the same period in the prior year, the business earned $0.31 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year.
SITC has been the subject of several other research reports. SunTrust Banks decreased their price target on SITE Centers from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday. Citigroup upped their price target on SITE Centers from $13.50 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Compass Point downgraded SITE Centers from a “neutral” rating to a “sell” rating and set a $13.50 price target for the company. in a report on Monday, November 25th. BidaskClub upgraded SITE Centers from a “sell” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Evercore ISI assumed coverage on SITE Centers in a report on Friday, February 14th. They set a “hold” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.50.
Shares of SITE Centers stock opened at $9.27 on Wednesday. The stock has a fifty day simple moving average of $12.50 and a 200 day simple moving average of $13.88. SITE Centers has a 12-month low of $9.21 and a 12-month high of $15.85.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 8.63%.
Large investors have recently made changes to their positions in the business. Huntington National Bank bought a new position in SITE Centers in the 4th quarter valued at $26,000. NumerixS Investment Technologies Inc grew its stake in SITE Centers by 733.3% in the 4th quarter. NumerixS Investment Technologies Inc now owns 7,500 shares of the company’s stock valued at $105,000 after purchasing an additional 6,600 shares during the period. Advisors Asset Management Inc. grew its stake in SITE Centers by 49.4% in the 4th quarter. Advisors Asset Management Inc. now owns 8,412 shares of the company’s stock valued at $118,000 after purchasing an additional 2,783 shares during the period. Comerica Bank bought a new position in SITE Centers in the 3rd quarter valued at $157,000. Finally, Ellington Management Group LLC bought a new position in SITE Centers in the 4th quarter valued at $164,000.
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.
