SITE Centers Corp. to Post FY2022 Earnings of $1.12 Per Share, Jefferies Financial Group Forecasts (NYSE:SITC)

SITE Centers Corp. (NYSE:SITCGet Rating) – Research analysts at Jefferies Financial Group raised their FY2022 earnings per share (EPS) estimates for shares of SITE Centers in a report issued on Thursday, April 14th. Jefferies Financial Group analyst L. Tsai now expects that the company will earn $1.12 per share for the year, up from their previous forecast of $1.11. Jefferies Financial Group also issued estimates for SITE Centers’ FY2023 earnings at $1.19 EPS.

A number of other research firms also recently commented on SITC. StockNews.com assumed coverage on SITE Centers in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company increased their price objective on SITE Centers from $16.50 to $18.50 and gave the stock an “overweight” rating in a report on Thursday, April 7th. Finally, Morgan Stanley dropped their price objective on SITE Centers from $17.00 to $16.50 and set an “equal weight” rating on the stock in a report on Thursday, March 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, SITE Centers has an average rating of “Buy” and a consensus target price of $17.67.

NYSE SITC opened at $16.41 on Friday. The company has a 50 day simple moving average of $15.90 and a 200-day simple moving average of $15.84. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 33.49 and a beta of 1.60. SITE Centers has a 52-week low of $13.78 and a 52-week high of $17.61.

SITE Centers (NYSE:SITCGet Rating) last posted its quarterly earnings results on Wednesday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.21. SITE Centers had a net margin of 25.38% and a return on equity of 6.75%. During the same period last year, the business earned $0.25 earnings per share.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of SITE Centers by 1.9% in the fourth quarter. BlackRock Inc. now owns 29,358,892 shares of the company’s stock worth $464,749,000 after acquiring an additional 543,773 shares during the last quarter. Cohen & Steers Inc. lifted its position in SITE Centers by 1.2% in the third quarter. Cohen & Steers Inc. now owns 12,827,705 shares of the company’s stock worth $198,105,000 after purchasing an additional 148,395 shares during the period. State Street Corp lifted its position in SITE Centers by 3.8% in the fourth quarter. State Street Corp now owns 9,569,342 shares of the company’s stock worth $152,644,000 after purchasing an additional 352,947 shares during the period. Goldman Sachs Group Inc. lifted its position in SITE Centers by 16.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,159,008 shares of the company’s stock worth $129,157,000 after purchasing an additional 1,126,689 shares during the period. Finally, Morgan Stanley lifted its position in SITE Centers by 863.0% in the second quarter. Morgan Stanley now owns 7,875,803 shares of the company’s stock worth $118,610,000 after purchasing an additional 7,057,976 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

In other news, CAO Christa A. Vesy sold 35,000 shares of the firm’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $16.88, for a total value of $590,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Conor Fennerty sold 9,500 shares of the firm’s stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $16.18, for a total transaction of $153,710.00. The disclosure for this sale can be found here. Company insiders own 20.30% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 17th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Wednesday, March 16th. This is an increase from SITE Centers’s previous quarterly dividend of $0.12. SITE Centers’s dividend payout ratio (DPR) is 106.12%.

About SITE Centers (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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Earnings History and Estimates for SITE Centers (NYSE:SITC)

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