Wall Street analysts expect SITE Centers Corp. (NYSE:SITC – Get Rating) to post $126.25 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for SITE Centers’ earnings. The highest sales estimate is $131.40 million and the lowest is $122.78 million. SITE Centers reported sales of $119.99 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The company is expected to issue its next quarterly earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that SITE Centers will report full year sales of $512.42 million for the current financial year, with estimates ranging from $495.49 million to $521.10 million. For the next financial year, analysts anticipate that the firm will post sales of $536.71 million, with estimates ranging from $506.32 million to $549.82 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover SITE Centers.
SITE Centers (NYSE:SITC – Get Rating) last released its earnings results on Wednesday, February 9th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.21. SITE Centers had a return on equity of 6.75% and a net margin of 25.38%. During the same quarter in the prior year, the firm earned $0.25 EPS.
NYSE SITC opened at $16.41 on Friday. The business’s 50-day moving average price is $15.90 and its 200 day moving average price is $15.84. SITE Centers has a twelve month low of $13.78 and a twelve month high of $17.61. The company has a market capitalization of $3.47 billion, a PE ratio of 33.49 and a beta of 1.60. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.90.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Thursday, March 17th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.17%. This is a positive change from SITE Centers’s previous quarterly dividend of $0.12. SITE Centers’s dividend payout ratio (DPR) is 106.12%.
In other news, CFO Conor Fennerty sold 9,500 shares of the stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $16.18, for a total value of $153,710.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christa A. Vesy sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $16.88, for a total value of $590,800.00. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SITC. Morgan Stanley grew its stake in SITE Centers by 863.0% during the 2nd quarter. Morgan Stanley now owns 7,875,803 shares of the company’s stock valued at $118,610,000 after purchasing an additional 7,057,976 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in SITE Centers by 7.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 255,312 shares of the company’s stock valued at $3,942,000 after purchasing an additional 18,257 shares in the last quarter. New York State Teachers Retirement System grew its stake in SITE Centers by 2.1% during the 3rd quarter. New York State Teachers Retirement System now owns 58,141 shares of the company’s stock valued at $898,000 after purchasing an additional 1,200 shares in the last quarter. Ziegler Capital Management LLC grew its stake in SITE Centers by 1.6% during the 3rd quarter. Ziegler Capital Management LLC now owns 109,810 shares of the company’s stock valued at $1,695,000 after purchasing an additional 1,697 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of SITE Centers by 0.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 368,859 shares of the company’s stock worth $5,695,000 after acquiring an additional 1,327 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.
SITE Centers Company Profile (Get Rating)
SITE Centers 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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