Site Centers (NYSE:SITC) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Site Centers (NYSE:SITC) released its earnings results on Monday. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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%. The company had revenue of $4.47 million during the quarter, compared to analysts’ expectations of $5.70 million.

Site Centers Price Performance

SITC opened at $3.69 on Tuesday. The firm has a fifty day moving average price of $3.19 and a 200 day moving average price of $4.68. Site Centers has a 1 year low of $2.80 and a 1 year high of $7.49. The stock has a market cap of $193.35 million, a P/E ratio of 1.53 and a beta of 0.97.

Site Centers Announces Dividend

The company also recently announced a special dividend, which will be paid on Thursday, November 5th. Stockholders of record on Tuesday, October 27th will be issued a dividend of $3.00 per share.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research downgraded Site Centers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler reduced their price target on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a research note on Monday, September 21st. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Site Centers currently has an average rating of “Sell” and a consensus price target of $3.50.

Site Centers Company Profile

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.