Brokerages Expect SITE Centers Corp. (SITC) to Announce $0.30 Earnings Per Share
SITE Centers Corp. (NASDAQ:SITC) has been given an average broker rating score of 3.00 (Hold) from the fifteen brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating, one has issued a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. SITE Centers’ rating score has improved by 4.2% in the last three months as a result of various analysts’ upgrades and downgrades.
Analysts have set a 12 month consensus target price of $13.75 for the company and are forecasting that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also given SITE Centers an industry rank of 146 out of 257 based on the ratings given to its competitors.
Separately, Capital One Financial upgraded shares of SITE Centers from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 30th.
SITE Centers (NASDAQ:SITC) last issued its quarterly earnings results on Wednesday, October 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The company had revenue of $128.98 million for the quarter, compared to analyst estimates of $149.46 million. The company’s revenue was down 41.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 14th will be paid a $0.20 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.13%.
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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