Analysts Expect SITE Centers Corp. (NASDAQ:SITC) Will Post Earnings of $0.23 Per Share

Brokerages expect SITE Centers Corp. (NASDAQ:SITC) to announce $0.23 earnings per share for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for SITE Centers’ earnings. The highest EPS estimate is $0.25 and the lowest is $0.14. SITE Centers posted earnings per share of $0.31 in the same quarter last year, which would suggest a negative year-over-year growth rate of 25.8%. The company is expected to announce its next earnings results on Monday, August 3rd.

According to Zacks, analysts expect that SITE Centers will report full-year earnings of $1.01 per share for the current year, with EPS estimates ranging from $0.86 to $1.09. For the next year, analysts expect that the company will post earnings of $1.02 per share, with EPS estimates ranging from $0.91 to $1.14. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover SITE Centers.

SITE Centers (NASDAQ:SITC) last released its earnings results on Thursday, April 30th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The firm had revenue of $114.10 million for the quarter, compared to analyst estimates of $112.12 million. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share.

SITC has been the subject of a number of recent research reports. Deutsche Bank cut their target price on SITE Centers from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, June 5th. Morgan Stanley lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $16.00 to $4.50 in a report on Monday, April 27th. Raymond James downgraded shares of SITE Centers from an “outperform” rating to a “market perform” rating in a report on Thursday, June 11th. Citigroup lowered their target price on shares of SITE Centers from $14.50 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Odeon Capital Group assumed coverage on shares of SITE Centers in a research report on Wednesday, April 8th. They issued a “buy” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. SITE Centers has a consensus rating of “Hold” and an average price target of $10.29.

Shares of SITC stock opened at $7.43 on Wednesday. SITE Centers has a 12 month low of $3.60 and a 12 month high of $15.85. The stock has a 50 day moving average of $6.67 and a two-hundred day moving average of $9.41.

In other news, Director Dawn M. Sweeney acquired 20,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were purchased at an average cost of $5.49 per share, with a total value of $109,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV increased its holdings in shares of SITE Centers by 6.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 12,230 shares of the company’s stock valued at $171,000 after purchasing an additional 792 shares in the last quarter. ProShare Advisors LLC boosted its position in SITE Centers by 3.3% in the 4th quarter. ProShare Advisors LLC now owns 30,065 shares of the company’s stock valued at $422,000 after buying an additional 947 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of SITE Centers by 5.3% in the 4th quarter. Pictet Asset Management Ltd. now owns 31,700 shares of the company’s stock valued at $444,000 after buying an additional 1,600 shares during the period. Principal Financial Group Inc. raised its position in shares of SITE Centers by 13.4% during the fourth quarter. Principal Financial Group Inc. now owns 15,481 shares of the company’s stock worth $217,000 after acquiring an additional 1,832 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of SITE Centers by 15.6% during the first quarter. Fifth Third Bancorp now owns 16,952 shares of the company’s stock valued at $88,000 after acquiring an additional 2,283 shares during the period.

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

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