SunTrust Banks Equities Analysts Lower Earnings Estimates for SITE Centers Corp. (SITC)

SITE Centers Corp. (NASDAQ:SITC) – Equities researchers at SunTrust Banks decreased their Q4 2019 EPS estimates for SITE Centers in a research report issued to clients and investors on Monday, May 13th. SunTrust Banks analyst K. Kim now expects that the company will earn $0.29 per share for the quarter, down from their previous estimate of $0.30.

SITE Centers (NASDAQ:SITC) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The company had revenue of $113.69 million during the quarter, compared to the consensus estimate of $117.95 million. The firm’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.

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

Shares of SITC opened at $13.79 on Thursday. SITE Centers has a 1 year low of $10.71 and a 1 year high of $15.07.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Wednesday, June 12th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 11th. This represents a $0.80 annualized dividend and a dividend yield of 5.80%.

Several institutional investors have recently added to or reduced their stakes in SITC. State of Alaska Department of Revenue purchased a new position in SITE Centers in the fourth quarter worth about $732,000. Virtu Financial LLC purchased a new position in SITE Centers in the fourth quarter worth about $140,000. Meeder Asset Management Inc. purchased a new position in SITE Centers in the fourth quarter worth about $28,000. Nisa Investment Advisors LLC purchased a new position in SITE Centers in the fourth quarter worth about $879,000. Finally, Bank of Montreal Can purchased a new position in SITE Centers in the fourth quarter worth about $2,080,000.

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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