SITE Centers (SITC) to Release Earnings on Tuesday

SITE Centers (NYSE:SITC) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect SITE Centers to post earnings of $0.24 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, analysts expect SITE Centers to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

SITE Centers Stock Performance

SITC opened at $13.48 on Friday. SITE Centers has a 52-week low of $10.88 and a 52-week high of $14.71. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $2.82 billion, a P/E ratio of 11.14 and a beta of 1.58. The firm’s 50-day moving average price is $13.97 and its 200-day moving average price is $13.47.

SITE Centers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 14th were given a $0.13 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.52 annualized dividend and a yield of 3.86%. SITE Centers’s dividend payout ratio is presently 42.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wolfe Research lowered SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Wells Fargo & Company reiterated an “overweight” rating and set a $15.50 target price on shares of SITE Centers in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, SITE Centers has a consensus rating of “Hold” and an average price target of $14.25.

SITE Centers Company Profile

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. 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.