Site Centers (NYSE:SITC) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Site Centers (NYSE:SITC) announced its quarterly earnings data on Monday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04, Zacks reports. Site Centers had a return on equity of 40.56% and a net margin of 219.18%.

Site Centers Stock Down 1.2%

Shares of NYSE:SITC traded down $0.04 during trading on Monday, hitting $3.69. 2,067,544 shares of the company were exchanged, compared to its average volume of 1,090,532. Site Centers has a 1-year low of $2.80 and a 1-year high of $7.49. The company has a market capitalization of $193.35 million, a P/E ratio of 1.53 and a beta of 0.96. The business’s 50 day moving average is $3.18 and its 200-day moving average is $4.70.

Site Centers Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, November 5th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $3.00 per share.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research cut Site Centers from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Piper Sandler dropped their target price on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a research note on Monday, September 21st. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $3.50.

Site Centers Company Profile

SITE Centers Corp. (NYSE: SITC) is a self-administered and self-managed real estate investment trust that owns, operates and leases open-air shopping centers in the United States. Its properties are generally located in suburban communities and are designed to serve everyday consumer needs.

The company’s portfolio includes grocery-anchored and other multi-tenant retail centers occupied by a mix of national, regional and local retailers, restaurants, service providers and other consumer-focused businesses.