SITE Centers (SITC) Scheduled to Post Quarterly Earnings on Tuesday

SITE Centers (NYSE:SITC) is scheduled to be releasing its earnings data before the market opens on Tuesday, July 30th. Analysts expect SITE Centers to post earnings of $0.24 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

SITE Centers Price Performance

NYSE:SITC opened at $15.67 on Monday. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 15.36 and a beta of 1.64. SITE Centers has a 52-week low of $10.88 and a 52-week high of $15.81. The stock has a fifty day moving average of $14.63 and a 200 day moving average of $14.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.54 and a current ratio of 3.54.

SITE Centers’s stock is scheduled to reverse split on Monday, August 19th. The 1-4 reverse split was announced on Monday, August 19th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, August 19th.

SITE Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Tuesday, June 18th. SITE Centers’s dividend payout ratio is 50.98%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lifted their price objective on SITE Centers from $15.50 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.33.

Insiders Place Their Bets

In other SITE Centers news, Director Alexander Otto sold 242,573 shares of SITE Centers stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $14.71, for a total transaction of $3,568,248.83. Following the completion of the sale, the director now owns 19,071,327 shares of the company’s stock, valued at $280,539,220.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 1,578,775 shares of company stock valued at $22,785,354 over the last 90 days. Insiders own 10.10% of the company’s stock.

About SITE Centers

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. 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.