Site Centers Corp. Plans 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. Shareholders of record on Monday, June 30th will be given a dividend of 1.50 per share on Tuesday, July 15th.

Site Centers Price Performance

Site Centers stock traded up $0.72 during mid-day trading on Wednesday, hitting $12.19. 563,759 shares of the company traded hands, compared to its average volume of 937,150. The stock has a fifty day moving average price of $11.89 and a 200-day moving average price of $13.49. The stock has a market cap of $638.98 million, a price-to-earnings ratio of 1.18 and a beta of 1.32. Site Centers has a one year low of $10.46 and a one year high of $64.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92.

Site Centers (NYSE:SITC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Site Centers had a return on equity of 39.38% and a net margin of 201.78%. The business had revenue of $40.35 million during the quarter, compared to analysts' expectations of $33.50 million. During the same quarter in the previous 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. On average, equities analysts predict that Site Centers will post 3.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SITC shares. Wells Fargo & Company cut their price target on shares of Site Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Piper Sandler lowered their price objective on Site Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Wall Street Zen raised Site Centers from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Site Centers has an average rating of "Hold" and an average target price of $35.25.

Institutional Investors Weigh In On Site Centers

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

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.

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