SITE Centers Corp. (NASDAQ:SITC) – Stock analysts at Jefferies Financial Group decreased their FY2021 earnings per share (EPS) estimates for shares of SITE Centers in a note issued to investors on Tuesday, March 10th. Jefferies Financial Group analyst L. Tsai now anticipates that the company will post earnings per share of $1.13 for the year, down from their prior estimate of $1.17.
Other equities research analysts also recently issued research reports about the company. SunTrust Banks reduced their target price on SITE Centers from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley raised SITE Centers from an “equal” rating to an “equal weight” rating and raised their target price for the company from $13.50 to $16.00 in a report on Tuesday, December 17th. Stifel Nicolaus raised SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, November 21st. BidaskClub downgraded SITE Centers from a “hold” rating to a “sell” rating in a report on Friday. Finally, Citigroup raised their target price on SITE Centers from $13.50 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $14.50.
SITE Centers stock opened at $8.11 on Thursday. SITE Centers has a one year low of $7.01 and a one year high of $15.85. The business has a fifty day moving average of $12.26 and a two-hundred day moving average of $13.82.
SITE Centers (NASDAQ:SITC) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.23). The company had revenue of $111.79 million for the quarter, compared to analysts’ expectations of $111.53 million. During the same quarter last year, the business posted $0.31 EPS. SITE Centers’s revenue was down 8.0% compared to the same quarter last year.
A number of institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC lifted its holdings in SITE Centers by 198.8% in the fourth quarter. Nuveen Asset Management LLC now owns 5,636,416 shares of the company’s stock valued at $79,023,000 after acquiring an additional 3,749,962 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of SITE Centers by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,611,892 shares of the company’s stock worth $36,619,000 after buying an additional 190,874 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of SITE Centers by 17.1% during the 4th quarter. Geode Capital Management LLC now owns 2,291,114 shares of the company’s stock worth $32,121,000 after buying an additional 334,367 shares during the last quarter. Norges Bank acquired a new position in shares of SITE Centers during the 4th quarter worth $29,366,000. Finally, Janus Henderson Group PLC raised its stake in shares of SITE Centers by 6.0% during the 4th quarter. Janus Henderson Group PLC now owns 1,973,603 shares of the company’s stock worth $27,660,000 after buying an additional 111,850 shares during the last quarter.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date is Monday, March 9th.
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.