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 listening to the company’s earnings conference call can do so using this link.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.26 by $0.66. The company had revenue of $123.20 million during the quarter, compared to analysts’ expectations of $127.81 million. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. SITE Centers’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. 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 Price Performance

Shares of NYSE:SITC opened at $13.48 on Friday. The company has a 50 day moving average of $13.97 and a 200 day moving average of $13.47. The stock has a market cap of $2.82 billion, a P/E ratio of 11.14 and a beta of 1.58. SITE Centers has a 12 month low of $10.88 and a 12 month high of $14.71. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.81.

SITE Centers Cuts Dividend

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

Analyst Upgrades and Downgrades

SITC has been the subject of several research analyst reports. 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. Wolfe Research lowered shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. 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.