SITE Centers Corp. (NASDAQ:SITC) to Post FY2019 Earnings of $1.20 Per Share, Jefferies Financial Group Forecasts

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SITE Centers Corp. (NASDAQ:SITC) – Equities research analysts at Jefferies Financial Group raised their FY2019 earnings estimates for shares of SITE Centers in a research note issued on Monday, October 14th. Jefferies Financial Group analyst J. Petersen now forecasts that the company will post earnings of $1.20 per share for the year, up from their previous estimate of $1.19.

A number of other equities analysts have also recently weighed in on the company. Mizuho cut SITE Centers from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research note on Friday, September 13th. Compass Point started coverage on SITE Centers in a research note on Thursday, August 15th. They issued a “neutral” rating and a $14.00 price target on the stock. Finally, Zacks Investment Research raised SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $14.67.

Shares of SITC opened at $15.06 on Tuesday. The business’s 50-day moving average price is $14.61 and its 200 day moving average price is $13.78. SITE Centers has a 1-year low of $10.71 and a 1-year high of $15.23.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Great Lakes Advisors LLC acquired a new stake in SITE Centers during the 2nd quarter worth about $4,727,000. Phocas Financial Corp. acquired a new stake in SITE Centers during the 2nd quarter worth about $72,000. Glen Harbor Capital Management LLC boosted its position in SITE Centers by 1,012.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 57,024 shares of the company’s stock worth $755,000 after acquiring an additional 51,898 shares during the period. State of Alaska Department of Revenue boosted its position in SITE Centers by 6.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 71,113 shares of the company’s stock worth $939,000 after acquiring an additional 4,278 shares during the period. Finally, Neuburgh Advisers LLC boosted its position in SITE Centers by 1,012.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 41,472 shares of the company’s stock worth $549,000 after acquiring an additional 37,744 shares during the period.

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

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.

See Also: Capital Gains Distribution

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

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