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

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

SITE Centers Trading Up 2.6 %

Shares of NYSE SITC opened at $15.67 on Monday. SITE Centers has a 12 month low of $10.88 and a 12 month high of $15.81. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 15.36 and a beta of 1.64. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $14.63 and a 200-day simple moving average of $14.16.

Shares of SITE Centers are going 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 Dividend Announcement

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

Insider Buying and Selling

In other SITE Centers news, Director Alexander Otto sold 242,573 shares of the company’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,578,775 shares of company stock worth $22,785,354. Insiders own 10.10% of the company’s stock.

Analysts Set New Price Targets

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

SITE Centers Company Profile

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.