KeyCorp Equities Analysts Lift Earnings Estimates for SITE Centers Corp. (NASDAQ:SITC)

SITE Centers Corp. (NASDAQ:SITC) – Research analysts at KeyCorp increased their Q3 2019 earnings estimates for SITE Centers in a research report issued to clients and investors on Monday, June 24th, Zacks Investment Research reports. KeyCorp analyst T. Thomas now anticipates that the company will post earnings of $0.29 per share for the quarter, up from their prior estimate of $0.28.

Shares of SITC stock traded down $0.22 during trading hours on Thursday, hitting $13.01. 573,987 shares of the company were exchanged, compared to its average volume of 1,028,306. SITE Centers has a 1 year low of $10.71 and a 1 year high of $14.84. The business’s fifty day moving average price is $13.26.

SITE Centers (NASDAQ:SITC) last released its earnings results on Tuesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.03. The firm had revenue of $113.69 million during the quarter, compared to analysts’ expectations of $117.95 million. SITE Centers’s revenue for the quarter was down 45.1% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 11th. This represents a $0.80 annualized dividend and a dividend yield of 6.15%.

Several hedge funds have recently made changes to their positions in SITC. Cohen & Steers Inc. purchased a new position in shares of SITE Centers during the 4th quarter worth about $335,023,000. BlackRock Inc. purchased a new position in shares of SITE Centers during the 4th quarter worth about $130,468,000. FMR LLC purchased a new position in shares of SITE Centers during the 4th quarter worth about $63,775,000. Dimensional Fund Advisors LP purchased a new position in shares of SITE Centers during the 4th quarter worth about $26,986,000. Finally, Millennium Management LLC purchased a new position in shares of SITE Centers during the 4th quarter worth about $25,045,000.

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.

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

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