SITE Centers (NYSE:SITC – Get Free Report) posted its earnings results on Tuesday. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.24 by $0.87, Yahoo Finance reports. The firm had revenue of $113.48 million for the quarter, compared to analysts’ expectations of $113.23 million. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS.
SITE Centers Stock Performance
Shares of SITC traded up $0.07 during trading hours on Thursday, hitting $15.52. The company’s stock had a trading volume of 121,260 shares, compared to its average volume of 1,882,508. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 15.15 and a beta of 1.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.54 and a quick ratio of 3.54. The business has a 50 day simple moving average of $14.72 and a two-hundred day simple moving average of $14.20. SITE Centers has a 52-week low of $10.88 and a 52-week high of $16.11.
Shares of SITE Centers are scheduled to reverse split on the morning of 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 closing bell on Monday, August 19th.
SITE Centers Dividend Announcement
Insiders Place Their Bets
In other news, Director Alexander Otto sold 228,042 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $14.11, for a total transaction of $3,217,672.62. Following the sale, the director now directly owns 17,268,286 shares in the company, valued at $243,655,515.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 1,578,775 shares of company stock worth $22,785,354 in the last quarter. 10.10% of the stock is owned by company insiders.
Analyst Ratings Changes
SITC has been the topic of several research analyst reports. Piper Sandler boosted their price objective on SITE Centers from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of SITE Centers from $15.50 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.00.
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.
Read More
- Five stocks we like better than SITE Centers
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Mastercard Stock’s Q2 Financial Results Outshine Competitors
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Tobacco Giant’s Shares Fall on EPS Miss, Lackluster Pouch Gains
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Analysts Expect At Least 60% Upside In This Fintech
Receive News & Ratings for SITE Centers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITE Centers and related companies with MarketBeat.com's FREE daily email newsletter.