SITE Centers Corp. Declares Quarterly Dividend of $0.13 (NYSE:SITC)

SITE Centers Corp. (NYSE:SITC - Get Free Report) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Tuesday, June 18th will be given a dividend of 0.13 per share on Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 3.74%. The ex-dividend date is Tuesday, June 18th.

SITE Centers has raised its dividend by an average of 46.6% per year over the last three years.

SITE Centers Price Performance

Shares of NYSE SITC traded down $0.06 during mid-day trading on Friday, reaching $13.92. 1,602,896 shares of the company traded hands, compared to its average volume of 2,025,869. The firm has a market cap of $2.92 billion, a PE ratio of 13.71 and a beta of 1.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.54 and a quick ratio of 3.54. SITE Centers has a fifty-two week low of $10.88 and a fifty-two week high of $14.71. The stock has a fifty day simple moving average of $13.96 and a 200-day simple moving average of $13.58.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.66. SITE Centers had a return on equity of 11.83% and a net margin of 43.36%. The company had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. During the same quarter in the previous year, the business earned $0.29 EPS. The company's quarterly revenue was down 9.7% compared to the same quarter last year. Equities research analysts anticipate that SITE Centers will post 0.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company reiterated an "overweight" rating and issued a $15.50 target price on shares of SITE Centers in a report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, SITE Centers presently has a consensus rating of "Hold" and a consensus target price of $14.25.

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.