SITE Centers (NYSE: SITC) Releases Fiscal 2021 Pre-Market Profit Guidance
SITE centers (NYSE: SITC) on Monday morning released an update of their pre-market earnings guidance for fiscal 2021. The company provided an earnings per share (EPS) forecast of 0.90 to 1.00 for the period.
Actions of NYSE SITC open for $ 13.25 on Mondays. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt ratio of 1.09. SITE centers have a minimum of $ 3.60 over 12 months and a maximum of 12 months of $ 14.08. The stock has a market cap of $ 2.56 billion, a price-to-earnings ratio of 82.81 and a beta of 1.66. The company’s 50-day mobile average price is $ 12.08, and its 200-day mobile average price is $ 10.21.
SITE Centers (NYSE: SITC) last released its quarterly earnings data on Thursday, February 18. The company reported earnings per share of ($ 0.03) for the quarter, missing the Zacks consensus estimate of $ 0.24 per ($ 0.27). SITE centers have a return on equity of 3.76% and a net margin of 14.52%. On average, stock analysts predict that SITE Centers will post an EPS of 0.98 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday April 6. Investors of record on Thursday, March 18 will receive a dividend of $ 0.11. This is a positive change from the previous SITE quarterly dividend of $ 0.05. This represents a dividend of $ 0.44 on an annualized basis and a return of 3.32%. The ex-dividend date is Wednesday March 17. SITE Centers’ dividend payout ratio is 15.75%.
A number of analysts have recently weighed on SITC stocks. Wells Fargo & Company upgraded SITE stocks to a weight rating equal to an overweight rating and increased its price target for the share from $ 8.00 to $ 11.50 in a research report on Thursday 10 December. Piper Sandler upgraded SITE Centers shares from neutral to overweight and raised her target price for the share from $ 11.00 to $ 13.00 in a research report on Thursday, January 14. Capital One Financial reissued an overweight position in SITE Centers shares in a research report on Wednesday, November 18. Smith Barney Citigroup raised its price target for SITE Centers shares from $ 8.50 to $ 11.00 in a research note on Tuesday, December 15. Finally, Compass Point took SITE Centers shares from a sell note to a neutral note in a research note on Monday, November 9. Nine equity research analysts rated the stock with a sustaining rating and four issued a buy rating to the company. SITE centers currently have a consensus Hold rating and an average target price of $ 10.04.
Separately, director Alexander Otto sold 479,314 shares in a transaction that took place on Tuesday, December 15. The shares were sold for an average price of $ 10.29, for a total transaction of $ 4,932,141.06. As a result of the transaction, the director now directly owns 31,156,418 shares of the company, valued at $ 320,599,541.22. The transaction was disclosed in a legal deposit with the SEC, available through the SEC website. During the last quarter, insiders sold 1,345,906 shares valued at $ 13,914,199. Insiders own 21.40% of the shares of the company.
Company profile SITE Centers
SITE Centers is an owner and manager of outdoor shopping centers that provide a very attractive shopping experience and range of merchandise to business partners and consumers. The Company is a self-managed, self-managed REIT operating as a fully integrated real estate company, and is listed on the New York Stock Exchange under the ticker symbol SITC.
Further Reading: How is a Throttling Strategy Different from an Overlap Strategy?
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]