Site Centers Corp. (SITC) to Issue Special Dividend of $3.00 on November 5th

Site Centers Corp. (NYSE:SITC) declared a special dividend on Thursday, October 15th. Stockholders of record on Tuesday, October 27th will be given a dividend of $3.00 per share on Thursday, November 5th.

Site Centers has increased its dividend by an average of 0.5% annually over the last three years. Site Centers has a dividend payout ratio of -120.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Site Centers Stock Performance

Shares of SITC traded up $0.42 during trading hours on Friday, hitting $3.44. The stock had a trading volume of 10,100,604 shares, compared to its average volume of 1,696,507. The firm has a 50-day moving average price of $3.03 and a 200 day moving average price of $4.24. Site Centers has a fifty-two week low of $2.80 and a fifty-two week high of $8.95. The firm has a market capitalization of $180.23 million, a price-to-earnings ratio of 1.43 and a beta of 0.97.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.08. Site Centers had a net margin of 219.18% and a return on equity of 40.56%. The company had revenue of $6.85 million for the quarter, compared to analyst estimates of $8.20 million.

Site Centers Company Profile

SITE Centers Corp. (NYSE: SITC) is a real estate investment trust that owns, operates and manages open-air shopping centers in the United States. The company primarily focuses on high-quality, grocery-anchored centers located in suburban communities, where its properties serve as convenient destinations for everyday shopping, dining and services.

The company’s portfolio includes shopping centers leased to grocery stores, restaurants, retailers, personal-service providers and other essential or convenience-oriented businesses.