KeyCorp Equities Analysts Decrease Earnings Estimates for SITE Centers Corp. (SITC)

SITE Centers Corp. (NASDAQ:SITC) – Equities researchers at KeyCorp dropped their FY2020 earnings per share (EPS) estimates for shares of SITE Centers in a report released on Tuesday, March 12th. KeyCorp analyst T. Thomas now expects that the company will post earnings per share of $1.16 for the year, down from their prior forecast of $1.21.

SITE Centers (NASDAQ:SITC) last issued its quarterly earnings data on Wednesday, February 20th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $121.50 million for the quarter, compared to analyst estimates of $128.54 million. The business’s quarterly revenue was down 42.0% compared to the same quarter last year.



A number of other research analysts have also recently issued reports on SITC. Capital One Financial upgraded shares of SITE Centers from an “equal weight” rating to an “overweight” rating in a report on Friday, November 30th. Mizuho upgraded shares of SITE Centers from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $14.00 in a report on Wednesday, January 23rd. Zacks Investment Research cut shares of SITE Centers from a “hold” rating to a “sell” rating in a report on Saturday, January 26th. Finally, TheStreet upgraded shares of SITE Centers from a “d+” rating to a “c-” rating in a report on Thursday, February 21st.

Shares of NASDAQ SITC opened at $13.13 on Friday. SITE Centers has a 52-week low of $10.71 and a 52-week high of $15.07.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Thursday, March 14th.

In related news, CEO David R. Lukes purchased 15,000 shares of the business’s stock in a transaction on Monday, December 31st. The shares were purchased at an average price of $11.00 per share, with a total value of $165,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

A number of institutional investors and hedge funds have recently made changes to their positions in SITC. Cohen & Steers Inc. bought a new position in SITE Centers in the fourth quarter valued at approximately $335,023,000. Daiwa Securities Group Inc. bought a new position in SITE Centers in the fourth quarter valued at approximately $138,375,000. BlackRock Inc. bought a new position in SITE Centers in the fourth quarter valued at approximately $130,468,000. FMR LLC bought a new position in SITE Centers in the fourth quarter valued at approximately $63,775,000. Finally, LSV Asset Management bought a new stake in shares of SITE Centers in the fourth quarter worth $57,590,000.

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.

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

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