SITE Centers Corp. (NASDAQ:SITC) – Research analysts at SunTrust Banks decreased their Q4 2019 earnings estimates for SITE Centers in a note issued to investors on Monday, May 13th. SunTrust Banks analyst K. Kim now forecasts that the company will post earnings of $0.29 per share for the quarter, down from their prior estimate of $0.30.

SITE Centers (NASDAQ:SITC) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The business had revenue of $113.69 million during the quarter, compared to the consensus estimate of $117.95 million. The firm’s revenue was down 45.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share.

A number of other analysts have also weighed in on the stock. Mizuho upgraded shares of SITE Centers from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Wednesday, January 23rd. TheStreet upgraded shares of SITE Centers from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Finally, Zacks Investment Research lowered shares of SITE Centers from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th.

Shares of SITE Centers stock opened at $13.86 on Thursday. SITE Centers has a 1 year low of $10.71 and a 1 year high of $15.07.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Wednesday, June 12th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 11th. This represents a $0.80 dividend on an annualized basis and a yield of 5.77%.

A number of large investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in SITE Centers by 5.5% during the 1st quarter. Morgan Stanley now owns 487,435 shares of the company’s stock valued at $6,638,000 after purchasing an additional 25,466 shares in the last quarter. Macquarie Group Ltd. increased its stake in SITE Centers by 23.4% during the 1st quarter. Macquarie Group Ltd. now owns 601,094 shares of the company’s stock valued at $8,186,000 after purchasing an additional 113,821 shares in the last quarter. SEI Investments Co bought a new stake in SITE Centers during the 1st quarter valued at about $8,814,000. ExodusPoint Capital Management LP bought a new stake in SITE Centers during the 1st quarter valued at about $162,000. Finally, Heitman Real Estate Securities LLC increased its stake in SITE Centers by 33.1% during the 1st quarter. Heitman Real Estate Securities LLC now owns 2,177,519 shares of the company’s stock valued at $29,658,000 after purchasing an additional 542,098 shares in the last quarter.

SITE Centers Company Profile

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.

Further Reading: Average Daily Trade Volume – ADTV

Earnings History and Estimates for SITE Centers (NASDAQ:SITC)

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