SITE Centers Corp. (NASDAQ:SITC) Expected to Announce Quarterly Sales of $110.25 Million

Brokerages forecast that SITE Centers Corp. (NASDAQ:SITC) will announce $110.25 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for SITE Centers’ earnings, with estimates ranging from $107.63 million to $113.82 million. SITE Centers posted sales of $204.32 million in the same quarter last year, which would indicate a negative year over year growth rate of 46%. The business is scheduled to announce its next quarterly earnings results before the market opens on Monday, July 29th.

On average, analysts expect that SITE Centers will report full-year sales of $452.57 million for the current fiscal year, with estimates ranging from $436.21 million to $504.24 million. For the next financial year, analysts forecast that the firm will post sales of $463.85 million, with estimates ranging from $442.83 million to $496.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for SITE Centers.

SITE Centers (NASDAQ:SITC) last posted its earnings results on Tuesday, April 23rd. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The firm had revenue of $113.69 million during the quarter, compared to analyst estimates of $117.95 million. During the same period in the previous year, the company posted $0.53 EPS. SITE Centers’s revenue for the quarter was down 45.1% compared to the same quarter last year.

SITE Centers stock opened at $13.46 on Wednesday. SITE Centers has a 12 month low of $10.71 and a 12 month high of $14.95. The company has a 50 day moving average price of $13.40.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Tuesday, June 11th.

A number of large investors have recently modified their holdings of the stock. Cohen & Steers Inc. acquired a new stake in SITE Centers during the fourth quarter worth approximately $335,023,000. BlackRock Inc. acquired a new stake in SITE Centers during the fourth quarter worth approximately $130,468,000. FMR LLC grew its position in SITE Centers by 10.2% during the first quarter. FMR LLC now owns 6,350,438 shares of the company’s stock worth $86,492,000 after buying an additional 589,325 shares in the last quarter. LSV Asset Management grew its position in SITE Centers by 0.6% during the first quarter. LSV Asset Management now owns 5,231,774 shares of the company’s stock worth $71,256,000 after buying an additional 29,350 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in SITE Centers by 29.4% during the first quarter. Frontier Capital Management Co. LLC now owns 3,219,451 shares of the company’s stock worth $43,849,000 after buying an additional 731,075 shares in the last quarter.

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.

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Earnings History and Estimates for SITE Centers (NASDAQ:SITC)

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