$0.28 Earnings Per Share Expected for SITE Centers Corp. (NASDAQ:SITC) This Quarter

Wall Street brokerages predict that SITE Centers Corp. (NASDAQ:SITC) will report $0.28 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for SITE Centers’ earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.27. SITE Centers posted earnings per share of $0.33 in the same quarter last year, which suggests a negative year over year growth rate of 15.2%. The firm is scheduled to report its next earnings results before the market opens on Wednesday, October 30th.

On average, analysts expect that SITE Centers will report full year earnings of $1.21 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.26. For the next year, analysts anticipate that the firm will post earnings of $1.15 per share, with EPS estimates ranging from $1.08 to $1.20. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover SITE Centers.

SITE Centers (NASDAQ:SITC) last announced its earnings results on Monday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.23). The company had revenue of $113.50 million for the quarter, compared to analysts’ expectations of $113.12 million. The company’s revenue for the quarter was down 44.4% on a year-over-year basis.

SITC has been the topic of a number of research analyst reports. Mizuho lowered shares of SITE Centers from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Friday, September 13th. Zacks Investment Research upgraded shares of SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, October 1st. Finally, Compass Point initiated coverage on shares of SITE Centers in a report on Thursday, August 15th. They issued a “neutral” rating and a $14.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $14.67.

NASDAQ SITC traded down $0.10 during mid-day trading on Wednesday, reaching $15.47. 2,269,317 shares of the stock were exchanged, compared to its average volume of 1,044,831. SITE Centers has a 1-year low of $10.71 and a 1-year high of $15.75. The business’s fifty day simple moving average is $14.81 and its 200 day simple moving average is $13.83.

The business also recently declared a — dividend, which was paid on Tuesday, October 8th. Shareholders of record on Monday, September 23rd were issued a $0.20 dividend. The ex-dividend date was Friday, September 20th. This represents a dividend yield of 5.4%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in shares of SITE Centers by 20.5% in the 3rd quarter. Rhumbline Advisers now owns 157,742 shares of the company’s stock valued at $2,383,000 after purchasing an additional 26,884 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of SITE Centers by 72.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 412,999 shares of the company’s stock valued at $6,241,000 after purchasing an additional 173,000 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in shares of SITE Centers by 3.9% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 305,700 shares of the company’s stock valued at $4,619,000 after purchasing an additional 11,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SITE Centers by 8.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,808 shares of the company’s stock valued at $556,000 after purchasing an additional 2,798 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of SITE Centers by 124.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,975 shares of the company’s stock valued at $816,000 after purchasing an additional 29,929 shares during the last quarter.

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

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