SITE Centers Corp. (NASDAQ:SITC) – Capital One Financial lowered their Q2 2019 earnings estimates for shares of SITE Centers in a note issued to investors on Monday, May 13th, according to Zacks Investment Research. Capital One Financial analyst C. Lucas now anticipates that the company will post earnings per share of $0.28 for the quarter, down from their previous estimate of $0.29. Capital One Financial also issued estimates for SITE Centers’ Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.29 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.29 EPS, Q4 2020 earnings at $0.29 EPS, FY2020 earnings at $1.16 EPS and FY2021 earnings at $1.15 EPS.
Separately, TheStreet raised SITE Centers from a “d+” rating to a “c-” rating in a research report on Thursday, February 21st.
Shares of SITE Centers stock traded down $0.16 during trading hours on Wednesday, hitting $13.15. 951,106 shares of the company’s stock traded hands, compared to its average volume of 992,315. SITE Centers has a 12-month low of $10.71 and a 12-month high of $15.07.
SITE Centers (NASDAQ:SITC) last announced its earnings results on Tuesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $113.69 million for the quarter, compared to analysts’ expectations of $117.95 million. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was down 45.1% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Wednesday, June 12th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Tuesday, June 11th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its holdings in SITE Centers by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 121,406 shares of the company’s stock worth $1,653,000 after acquiring an additional 917 shares during the last quarter. Cedar Brook Financial Partners LLC increased its holdings in SITE Centers by 4.0% in the 1st quarter. Cedar Brook Financial Partners LLC now owns 40,117 shares of the company’s stock worth $546,000 after acquiring an additional 1,531 shares during the last quarter. Utah Retirement Systems increased its holdings in SITE Centers by 3.1% in the 1st quarter. Utah Retirement Systems now owns 55,383 shares of the company’s stock worth $754,000 after acquiring an additional 1,665 shares during the last quarter. Arrow Investment Advisors LLC increased its holdings in SITE Centers by 6.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 33,427 shares of the company’s stock worth $455,000 after acquiring an additional 1,931 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in SITE Centers by 8.6% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,200 shares of the company’s stock worth $370,000 after acquiring an additional 2,162 shares during the last quarter.
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.