Zacks: Analysts Expect SITE Centers Corp. (NASDAQ:SITC) Will Post Earnings of $0.28 Per Share
Equities analysts expect SITE Centers Corp. (NASDAQ:SITC) to announce $0.28 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for SITE Centers’ earnings. SITE Centers reported earnings of $0.32 per share in the same quarter last year, which would indicate a negative year over year growth rate of 12.5%. The firm is expected to announce its next quarterly earnings results on Tuesday, April 28th.
On average, analysts expect that SITE Centers will report full year earnings of $1.13 per share for the current fiscal year, with EPS estimates ranging from $1.09 to $1.17. For the next year, analysts forecast that the company will post earnings of $1.14 per share, with EPS estimates ranging from $1.07 to $1.17. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow SITE Centers.
SITE Centers (NASDAQ:SITC) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.23). The firm had revenue of $111.79 million during the quarter, compared to analysts’ expectations of $111.53 million. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in SITE Centers in the fourth quarter worth about $177,000. Point72 Asset Management L.P. boosted its holdings in SITE Centers by 203.3% in the fourth quarter. Point72 Asset Management L.P. now owns 151,900 shares of the company’s stock worth $2,130,000 after acquiring an additional 101,819 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in SITE Centers by 49.4% in the fourth quarter. Advisors Asset Management Inc. now owns 8,412 shares of the company’s stock worth $118,000 after acquiring an additional 2,783 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in SITE Centers in the fourth quarter worth about $792,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of SITE Centers during the fourth quarter worth about $1,024,000.
Shares of SITE Centers stock traded up $0.06 during trading on Friday, hitting $12.99. 1,625,048 shares of the stock traded hands, compared to its average volume of 1,468,144. SITE Centers has a 52-week low of $12.53 and a 52-week high of $15.85. The stock’s fifty day simple moving average is $13.19 and its 200 day simple moving average is $14.12.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.80 annualized dividend and a yield of 6.16%.
About SITE Centers
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.
Featured Article: How to build a Fibonacci channel
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SITE Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITE Centers and related companies with MarketBeat.com's FREE daily email newsletter.