Site Centers (NYSE:SITC – Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04, Zacks reports. Site Centers had a net margin of 219.18% and a return on equity of 40.56%.
Site Centers Trading Down 1.2%
Shares of SITC stock traded down $0.04 on Monday, hitting $3.69. 2,067,544 shares of the stock were exchanged, compared to its average volume of 1,090,532. The firm has a market capitalization of $193.35 million, a PE ratio of 1.53 and a beta of 0.96. Site Centers has a one year low of $2.80 and a one year high of $7.49. The firm’s 50 day moving average is $3.18 and its two-hundred day moving average is $4.70.
Site Centers Announces Dividend
The company also recently declared a special dividend, which will be paid on Thursday, November 5th. Stockholders of record on Tuesday, October 27th will be given a dividend of $3.00 per share.
Wall Street Analyst Weigh In
SITC has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a report on Monday, September 21st. Zacks Research downgraded Site Centers from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Sell” and an average target price of $3.50.
Read Our Latest Stock Analysis on SITC
About Site Centers
SITE Centers Corp. (NYSE: SITC) is a self-administered and self-managed real estate investment trust that owns, operates and leases open-air shopping centers in the United States. Its properties are generally located in suburban communities and are designed to serve everyday consumer needs.
The company’s portfolio includes grocery-anchored and other multi-tenant retail centers occupied by a mix of national, regional and local retailers, restaurants, service providers and other consumer-focused businesses.
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