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

Site Centers (NYSE:SITC) issued its earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates 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 Trading Down 1.2%

Shares of NYSE:SITC traded down $0.04 during mid-day trading on Monday, hitting $3.69. 2,067,544 shares of the company traded hands, compared to its average volume of 1,090,532. The stock has a market cap of $193.35 million, a P/E ratio of 1.53 and a beta of 0.96. Site Centers has a 12-month low of $2.80 and a 12-month high of $7.49. The stock has a 50-day moving average price of $3.18 and a two-hundred day moving average price of $4.70.

Site Centers Announces Dividend

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

Wall Street Analyst Weigh In

SITC has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Site Centers from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler dropped their price objective on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Zacks Research cut shares of Site Centers from a “hold” rating to a “strong sell” rating in a report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Site Centers in a research report on Monday, September 21st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Site Centers presently has a consensus 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.