Site Centers Corp. Announces Special Dividend of $1.50 (NYSE:SITC)

Site Centers Corp. (NYSE:SITC - Get Free Report) announced a special dividend on Tuesday, June 17th, RTT News reports. Stockholders of record on Monday, June 30th will be given a dividend of 1.50 per share on Tuesday, July 15th.

Site Centers Stock Up 0.8%

SITC traded up $0.11 during trading hours on Friday, reaching $12.48. 6,095,180 shares of the stock traded hands, compared to its average volume of 968,797. Site Centers has a fifty-two week low of $10.46 and a fifty-two week high of $64.44. The company has a market cap of $654.19 million, a price-to-earnings ratio of 1.21 and a beta of 1.32. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The firm's fifty day simple moving average is $11.95 and its two-hundred day simple moving average is $13.43.

Site Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Site Centers had a net margin of 201.78% and a return on equity of 39.38%. The business had revenue of $40.35 million for the quarter, compared to analyst estimates of $33.50 million. During the same quarter last year, the business earned $0.28 EPS. Site Centers's revenue for the quarter was down 66.6% compared to the same quarter last year. As a group, analysts forecast that Site Centers will post 3.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Site Centers

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Site Centers by 88.5% during the first quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company's stock valued at $9,313,000 after purchasing an additional 340,452 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Site Centers in the first quarter valued at $4,023,000. Royal Bank of Canada lifted its position in shares of Site Centers by 11.5% during the 1st quarter. Royal Bank of Canada now owns 139,626 shares of the company's stock valued at $1,793,000 after acquiring an additional 14,395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Site Centers by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company's stock valued at $362,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Site Centers during the 1st quarter worth $114,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SITC has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on shares of Site Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Wall Street Zen raised shares of Site Centers from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Piper Sandler decreased their price target on Site Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.25.

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.