Analysts Anticipate SITE Centers Corp. (NASDAQ:SITC) Will Post Earnings of $0.28 Per Share

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Wall Street brokerages expect SITE Centers Corp. (NASDAQ:SITC) to announce $0.28 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for SITE Centers’ earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.26. SITE Centers reported earnings of $0.49 per share during the same quarter last year, which would indicate a negative year over year growth rate of 42.9%. The firm is expected to announce its next quarterly earnings report before the market opens on Monday, July 29th.

According to Zacks, analysts expect that SITE Centers will report full-year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.15 to $1.21. For the next year, analysts expect that the firm will report earnings of $1.17 per share, with EPS estimates ranging from $1.11 to $1.21. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover SITE Centers.

SITE Centers (NASDAQ:SITC) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The business had revenue of $113.69 million during the quarter, compared to the consensus estimate of $117.95 million. During the same quarter in the previous year, the business posted $0.53 EPS. The company’s revenue for the quarter was down 45.1% on a year-over-year basis.

SITC stock traded up $0.06 during midday trading on Wednesday, reaching $13.07. 26,091 shares of the stock were exchanged, compared to its average volume of 1,028,306. SITE Centers has a 52 week low of $10.71 and a 52 week high of $14.84. The firm has a fifty day moving average of $13.26.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Wednesday, June 12th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.80 dividend on an annualized basis and a yield of 6.12%.

A number of hedge funds have recently modified their holdings of SITC. BlackRock Inc. bought a new stake in SITE Centers during the 4th quarter worth $130,468,000. FMR LLC bought a new stake in SITE Centers during the 4th quarter worth $63,775,000. Dimensional Fund Advisors LP bought a new stake in SITE Centers during the 4th quarter worth $26,986,000. Millennium Management LLC bought a new stake in SITE Centers during the 4th quarter worth $25,045,000. Finally, Northern Trust Corp bought a new stake in SITE Centers during the 4th quarter worth $18,887,000.

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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