SITE Centers Corp. (NASDAQ:SITC) – Analysts at KeyCorp reduced their FY2020 EPS estimates for SITE Centers in a research report issued to clients and investors on Tuesday, March 12th. KeyCorp analyst T. Thomas now anticipates that the company will post earnings of $1.16 per share for the year, down from their previous forecast of $1.21.
SITE Centers (NASDAQ:SITC) last announced its quarterly earnings data on Wednesday, February 20th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The business had revenue of $121.50 million during the quarter, compared to the consensus estimate of $128.54 million. SITE Centers’s revenue was down 42.0% compared to the same quarter last year.
Other analysts have also issued reports about the stock. TheStreet raised shares of SITE Centers from a “d+” rating to a “c-” rating in a research report on Thursday, February 21st. Capital One Financial raised shares of SITE Centers from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 30th. Zacks Investment Research lowered shares of SITE Centers from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th. Finally, Mizuho raised shares of SITE Centers from a “neutral” rating to a “buy” rating and upped their price target for the stock from $12.00 to $14.00 in a research report on Wednesday, January 23rd.
Shares of SITC stock opened at $13.13 on Friday. SITE Centers has a 12 month low of $10.71 and a 12 month high of $15.07.
Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of SITE Centers by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 1,866,337 shares of the company’s stock valued at $20,660,000 after acquiring an additional 89,025 shares in the last quarter. Norges Bank acquired a new stake in SITE Centers during the fourth quarter worth about $14,829,000. Dimensional Fund Advisors LP bought a new position in shares of SITE Centers in the fourth quarter worth about $26,986,000. FMR LLC bought a new position in shares of SITE Centers in the fourth quarter worth about $63,775,000. Finally, WealthTrust Fairport LLC bought a new position in shares of SITE Centers in the fourth quarter worth about $357,000.
In related news, CEO David R. Lukes acquired 15,000 shares of the company’s stock in a transaction dated Monday, December 31st. The shares were bought at an average cost of $11.00 per share, with a total value of $165,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Thursday, March 14th.
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.
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