SITE Centers Corp. Forecasted to Post Q1 2019 Earnings of $0.29 Per Share (SITC)

SITE Centers Corp. (NASDAQ:SITC) – Analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for shares of SITE Centers in a research report issued on Wednesday, April 10th. Jefferies Financial Group analyst O. Okusanya forecasts that the company will post earnings per share of $0.29 for the quarter. Jefferies Financial Group also issued estimates for SITE Centers’ Q2 2019 earnings at $0.28 EPS, Q3 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.28 EPS, Q1 2020 earnings at $0.28 EPS, Q2 2020 earnings at $0.28 EPS, Q3 2020 earnings at $0.28 EPS, Q4 2020 earnings at $0.28 EPS, Q1 2021 earnings at $0.28 EPS and FY2021 earnings at $1.13 EPS.

SITE Centers (NASDAQ:SITC) last issued its earnings results on Wednesday, February 20th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The company had revenue of $121.50 million during the quarter, compared to analyst estimates of $128.54 million. SITE Centers’s revenue was down 42.0% on a year-over-year basis.

A number of other research firms have also commented on SITC. Zacks Investment Research lowered SITE Centers from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th. TheStreet upgraded SITE Centers from a “d+” rating to a “c-” rating in a research report on Thursday, February 21st. Finally, Mizuho upgraded SITE Centers from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.00 to $14.00 in a research report on Wednesday, January 23rd.

Shares of SITC opened at $13.74 on Thursday. SITE Centers has a 1 year low of $10.71 and a 1 year high of $15.07.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SITC. We Are One Seven LLC bought a new position in SITE Centers in the 4th quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in SITE Centers in the 4th quarter valued at $28,000. American International Group Inc. bought a new position in SITE Centers in the 4th quarter valued at $31,000. SRS Capital Advisors Inc. bought a new position in SITE Centers in the 4th quarter valued at $62,000. Finally, Commonwealth Bank of Australia bought a new position in SITE Centers in the 4th quarter valued at $70,000.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.82%.

About SITE Centers

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.

See Also: Diluted Earnings Per Share

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

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