Brokers Set Expectations for SITE Centers Corp.’s FY2019 Earnings (SITC)

SITE Centers Corp. (NASDAQ:SITC) – Analysts at Capital One Financial boosted their FY2019 EPS estimates for shares of SITE Centers in a research report issued to clients and investors on Monday, May 13th. Capital One Financial analyst C. Lucas now forecasts that the company will post earnings of $1.19 per share for the year, up from their previous forecast of $1.17.

A number of other equities analysts also recently issued reports on SITC. Zacks Investment Research downgraded SITE Centers from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. TheStreet upgraded SITE Centers from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Finally, Mizuho upgraded SITE Centers from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.00 to $14.00 in a research note on Wednesday, January 23rd.

SITC stock opened at $13.86 on Thursday. SITE Centers has a 52-week low of $10.71 and a 52-week high of $15.07.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. WealthTrust Fairport LLC purchased a new position in shares of SITE Centers in the 4th quarter worth approximately $357,000. Presima Inc. purchased a new position in shares of SITE Centers in the 4th quarter worth approximately $1,176,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of SITE Centers in the 4th quarter worth approximately $127,000. Rafferty Asset Management LLC purchased a new position in shares of SITE Centers in the 4th quarter worth approximately $335,000. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of SITE Centers in the 4th quarter worth approximately $27,546,000.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.77%.

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.

Featured Story: What is an SEC Filing?

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

Receive News & Ratings for SITE Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITE Centers and related companies with MarketBeat.com's FREE daily email newsletter.