SITE Centers (SITC) Scheduled to Post Earnings on Tuesday

SITE Centers (NYSE:SITCGet Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, February 13th. Analysts expect SITE Centers to post earnings of $0.26 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $13.85 on Friday. The business has a 50 day moving average price of $13.66 and a 200 day moving average price of $13.15. SITE Centers has a twelve month low of $10.88 and a twelve month high of $14.71. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 33.78 and a beta of 1.59. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.93.

SITE Centers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Wednesday, December 27th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, December 26th. This is a positive change from SITE Centers’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a yield of 4.62%. SITE Centers’s dividend payout ratio is 126.83%.

Institutional Trading of SITE Centers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis Advisors L.P. grew its holdings in SITE Centers by 77.3% during the first quarter. Natixis Advisors L.P. now owns 28,476 shares of the company’s stock worth $476,000 after purchasing an additional 12,416 shares during the period. MetLife Investment Management LLC grew its holdings in SITE Centers by 56.0% during the first quarter. MetLife Investment Management LLC now owns 91,158 shares of the company’s stock worth $1,523,000 after purchasing an additional 32,714 shares during the period. Panagora Asset Management Inc. bought a new position in SITE Centers during the first quarter worth about $959,000. Rhumbline Advisers grew its holdings in SITE Centers by 0.4% during the first quarter. Rhumbline Advisers now owns 579,418 shares of the company’s stock worth $9,682,000 after purchasing an additional 2,238 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in SITE Centers by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 154,777 shares of the company’s stock worth $2,586,000 after purchasing an additional 19,084 shares during the period. Institutional investors and hedge funds own 91.87% of the company’s stock.

Analyst Upgrades and Downgrades

SITC has been the topic of a number of research analyst reports. Wolfe Research lowered SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Mizuho decreased their price objective on SITE Centers from $15.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, December 1st. Finally, Piper Sandler decreased their price objective on SITE Centers from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, SITE Centers presently has a consensus rating of “Hold” and a consensus price target of $14.13.

Read Our Latest Research Report on SITC

About SITE Centers

(Get Free Report)

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. 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

Earnings History for SITE Centers (NYSE:SITC)

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