$126.25 Million in Sales Expected for SITE Centers Corp. (NYSE:SITC) This Quarter

Analysts expect SITE Centers Corp. (NYSE:SITCGet Rating) to post $126.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for SITE Centers’ earnings, with the highest sales estimate coming in at $131.40 million and the lowest estimate coming in at $122.78 million. SITE Centers reported sales of $119.99 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.2%. The company is expected to issue its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that SITE Centers will report full-year sales of $512.42 million for the current year, with estimates ranging from $495.49 million to $521.10 million. For the next fiscal year, analysts anticipate that the firm will post sales of $536.71 million, with estimates ranging from $506.32 million to $549.82 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for SITE Centers.

SITE Centers (NYSE:SITCGet Rating) last issued its earnings results on Wednesday, February 9th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.21. SITE Centers had a return on equity of 6.75% and a net margin of 25.38%. During the same period last year, the company earned $0.25 EPS.

A number of equities research analysts recently commented on the company. StockNews.com initiated coverage on SITE Centers in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley lowered their price objective on SITE Centers from $17.00 to $16.50 and set an “equal weight” rating on the stock in a research report on Thursday, March 3rd. Finally, Wells Fargo & Company upped their price objective on SITE Centers from $16.50 to $18.50 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.67.

In other news, CFO Conor Fennerty sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $16.18, for a total transaction of $153,710.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christa A. Vesy sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $16.88, for a total value of $590,800.00. The disclosure for this sale can be found here. Corporate insiders own 9.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its stake in SITE Centers by 2.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 28,395 shares of the company’s stock valued at $438,000 after purchasing an additional 711 shares during the last quarter. CIBC Asset Management Inc raised its stake in SITE Centers by 3.9% in the 3rd quarter. CIBC Asset Management Inc now owns 20,733 shares of the company’s stock valued at $320,000 after purchasing an additional 774 shares during the last quarter. Assetmark Inc. raised its stake in SITE Centers by 7.1% in the 3rd quarter. Assetmark Inc. now owns 12,402 shares of the company’s stock valued at $191,000 after purchasing an additional 826 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in SITE Centers by 1.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 71,574 shares of the company’s stock valued at $1,133,000 after purchasing an additional 992 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its stake in shares of SITE Centers by 2.1% in the 4th quarter. Vident Investment Advisory LLC now owns 48,678 shares of the company’s stock worth $771,000 after acquiring an additional 1,016 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

NYSE SITC remained flat at $$16.41 during trading hours on Friday. The company had a trading volume of 54,792 shares, compared to its average volume of 1,903,060. The company has a 50-day moving average of $15.93. The company has a market capitalization of $3.47 billion, a PE ratio of 33.49 and a beta of 1.60. SITE Centers has a 52-week low of $13.78 and a 52-week high of $17.61. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.90.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Thursday, March 17th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.17%. This is an increase from SITE Centers’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, March 16th. SITE Centers’s dividend payout ratio is presently 106.12%.

SITE Centers Company Profile (Get Rating)

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

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