Site Centers Corp. (NYSE:SITC) Declares Special Dividend of $3.00

Site Centers Corp. (NYSE:SITC) announced a special dividend on Thursday, October 15th. Investors of record on Tuesday, October 27th will be paid a dividend of $3.00 per share on Thursday, November 5th.

Site Centers has raised its dividend payment by an average of 0.5% annually over the last three years. Site Centers has a payout ratio of -120.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Site Centers Stock Performance

Shares of Site Centers stock opened at $3.00 on Friday. Site Centers has a 52-week low of $2.80 and a 52-week high of $8.95. The stock’s 50-day simple moving average is $3.03 and its 200 day simple moving average is $4.24. The stock has a market capitalization of $157.67 million, a P/E ratio of 1.25 and a beta of 0.97.

Site Centers (NYSE:SITC) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.08. The business had revenue of $6.85 million for the quarter, compared to the consensus estimate of $8.20 million. Site Centers had a net margin of 219.18% and a return on equity of 40.56%.

Site Centers Company Profile

SITE Centers Corp. (NYSE: SITC) is a real estate investment trust that owns, operates and manages open-air shopping centers in the United States. The company primarily focuses on high-quality, grocery-anchored centers located in suburban communities, where its properties serve as convenient destinations for everyday shopping, dining and services.

The company’s portfolio includes shopping centers leased to grocery stores, restaurants, retailers, personal-service providers and other essential or convenience-oriented businesses.