SITE Centers (SITC) Stock Price Up 5.9%

SITE Centers Corp. (NASDAQ:SITC) rose 5.9% on Thursday . The company traded as high as $13.04 and last traded at $13.04. Approximately 2,088,268 shares traded hands during trading, a decline of 12% from the average daily volume of 2,384,266 shares. The stock had previously closed at $12.31.

Separately, Capital One Financial raised SITE Centers from an “equal weight” rating to an “overweight” rating in a report on Friday, November 30th.

SITE Centers (NASDAQ:SITC) last posted its earnings results on Wednesday, October 24th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.10). The firm had revenue of $128.98 million during the quarter, compared to the consensus estimate of $149.46 million. During the same period in the prior year, the company earned $0.30 earnings per share. The business’s quarterly revenue was down 41.4% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Thursday, December 13th.

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SITE Centers Company Profile (NASDAQ:SITC)

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.

See Also: Leveraged Buyout (LBO)

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