Brokerages expect SITE Centers Corp. (NYSE:SITC – Get Rating) to report $129.61 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for SITE Centers’ earnings. The highest sales estimate is $132.04 million and the lowest is $127.50 million. SITE Centers posted sales of $126.71 million in the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The firm is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that SITE Centers will report full year sales of $521.81 million for the current year, with estimates ranging from $514.90 million to $528.13 million. For the next financial year, analysts anticipate that the firm will report sales of $548.44 million, with estimates ranging from $530.50 million to $564.26 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for SITE Centers.
SITE Centers (NYSE:SITC – Get Rating) last posted its earnings results on Tuesday, April 26th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $131.10 million for the quarter, compared to analyst estimates of $126.07 million. SITE Centers had a return on equity of 6.61% and a net margin of 24.41%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share.
In other SITE Centers news, CFO Conor Fennerty sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $16.18, for a total transaction of $153,710.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David R. Lukes sold 310,797 shares of the company’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $16.59, for a total value of $5,156,122.23. Following the completion of the sale, the chief executive officer now owns 1,164,513 shares in the company, valued at approximately $19,319,270.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 355,297 shares of company stock worth $5,900,632. 20.30% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc acquired a new position in shares of SITE Centers in the fourth quarter valued at approximately $60,000. O Shaughnessy Asset Management LLC grew its position in shares of SITE Centers by 294.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 4,619 shares of the company’s stock valued at $71,000 after purchasing an additional 3,448 shares during the last quarter. Anson Funds Management LP acquired a new position in shares of SITE Centers in the first quarter valued at approximately $75,000. Lazard Asset Management LLC acquired a new position in shares of SITE Centers in the first quarter valued at approximately $76,000. Finally, Acadian Asset Management LLC acquired a new position in shares of SITE Centers in the fourth quarter valued at approximately $91,000. Hedge funds and other institutional investors own 88.34% of the company’s stock.
SITC stock opened at $15.48 on Thursday. The business’s 50-day moving average price is $15.92 and its two-hundred day moving average price is $15.71. SITE Centers has a 1-year low of $13.55 and a 1-year high of $17.61. The firm has a market cap of $3.31 billion, a PE ratio of 31.55 and a beta of 1.52. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.93.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Thursday, June 9th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Wednesday, June 8th. SITE Centers’s dividend payout ratio is currently 106.12%.
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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