Site Centers Corp. (SITC) to Distribute Special Dividend of $1.00 on July 31st

Site Centers Corp. (NYSE:SITC) announced a special dividend on Tuesday, June 30th. Stockholders of record on Friday, July 17th will be paid a dividend of 1.00 per share on Friday, July 31st.

Site Centers has increased its dividend payment by an average of 0.5%annually over the last three years. Site Centers has a payout ratio of -120.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Site Centers Stock Performance

Shares of NYSE:SITC opened at $4.46 on Thursday. The business has a fifty day moving average of $5.13 and a 200-day moving average of $5.75. Site Centers has a twelve month low of $3.91 and a twelve month high of $12.39. The firm has a market cap of $234.28 million, a PE ratio of 1.34 and a beta of 1.01.

Site Centers (NYSE:SITC) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.13. The business had revenue of $13.02 million for the quarter, compared to the consensus estimate of $10.20 million. Site Centers had a net margin of 212.95% and a return on equity of 47.95%.

Site Centers Company Profile

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.