SITE Centers Corp. (NASDAQ:SITC) Plans Quarterly Dividend of $0.05

SITE Centers Corp. (NASDAQ:SITC) declared a quarterly dividend on Thursday, November 19th, Wall Street Journal reports. Stockholders of record on Friday, December 11th will be paid a dividend of 0.05 per share on Thursday, January 7th. This represents a $0.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, December 10th.

SITE Centers has a payout ratio of 181.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Shares of SITE Centers stock opened at $10.26 on Friday. The stock’s 50-day simple moving average is $7.72 and its 200-day simple moving average is $7.36. SITE Centers has a 52 week low of $3.60 and a 52 week high of $14.81. The company has a market capitalization of $1.98 billion and a price-to-earnings ratio of 93.27.

SITE Centers (NASDAQ:SITC) last announced its quarterly earnings data on Sunday, November 1st. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.22). The firm had revenue of $95.94 million during the quarter, compared to analyst estimates of $101.97 million. During the same quarter last year, the firm earned $0.30 EPS. The firm’s quarterly revenue was down 12.5% on a year-over-year basis.

A number of research firms recently commented on SITC. Compass Point upgraded SITE Centers from a “sell” rating to a “neutral” rating in a research report on Monday, November 9th. Morgan Stanley boosted their target price on SITE Centers from $5.75 to $8.20 and gave the stock an “equal weight” rating in a research report on Monday, September 14th. Finally, BidaskClub downgraded SITE Centers from a “hold” rating to a “sell” rating in a research report on Sunday, November 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. SITE Centers has an average rating of “Hold” and a consensus target price of $10.02.

About SITE Centers

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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Dividend History for SITE Centers (NASDAQ:SITC)

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