SITE Centers Corp. (NASDAQ:SITC) – Equities researchers at KeyCorp dropped their FY2020 earnings estimates for SITE Centers in a research note issued on Tuesday, March 12th. KeyCorp analyst T. Thomas now expects that the company will post earnings per share of $1.16 for the year, down from their prior forecast of $1.21.
Several other analysts have also weighed in on the company. Capital One Financial upgraded SITE Centers from an “equal weight” rating to an “overweight” rating in a report on Friday, November 30th. Mizuho upgraded SITE Centers from a “neutral” rating to a “buy” rating and increased their price target for the company from $12.00 to $14.00 in a report on Wednesday, January 23rd. TheStreet upgraded SITE Centers from a “d+” rating to a “c-” rating in a report on Thursday, February 21st. Finally, Zacks Investment Research lowered SITE Centers from a “hold” rating to a “sell” rating in a report on Saturday, January 26th.
SITE Centers (NASDAQ:SITC) last released its quarterly earnings results on Wednesday, February 20th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The company had revenue of $121.50 million for the quarter, compared to analysts’ expectations of $128.54 million. The business’s revenue was down 42.0% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Friday, March 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 6.14%.
In related news, CEO David R. Lukes purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 31st. The shares were bought at an average price of $11.00 per share, for a total transaction of $165,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
A number of hedge funds have recently added to or reduced their stakes in SITC. State of Alaska Department of Revenue purchased a new stake in SITE Centers in the fourth quarter worth $732,000. Virtu Financial LLC purchased a new stake in SITE Centers in the fourth quarter worth $140,000. Meeder Asset Management Inc. purchased a new stake in SITE Centers in the fourth quarter worth $28,000. Nisa Investment Advisors LLC purchased a new stake in SITE Centers in the fourth quarter worth $879,000. Finally, Bank of Montreal Can purchased a new stake in SITE Centers in the fourth quarter worth $2,080,000.
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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