Fintel reports that on May 25, 2023, Mizuho maintained coverage of SITE Centers (NYSE:SITC) with a Neutral recommendation.
Analyst Price Forecast Suggests 28.05% Upside
As of May 11, 2023, the average one-year price target for SITE Centers is 14.92. The forecasts range from a low of 12.12 to a high of $22.05. The average price target represents an increase of 28.05% from its latest reported closing price of 11.65.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SITE Centers is 567MM, a decrease of 2.27%. The projected annual non-GAAP EPS is 0.30.
SITE Centers Declares $0.13 Dividend
On May 10, 2023 the company declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Shareholders of record as of June 14, 2023 will receive the payment on July 6, 2023. Previously, the company paid $0.13 per share.
At the current share price of $11.65 / share, the stock’s dividend yield is 4.46%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.81%, the lowest has been 1.69%, and the highest has been 11.82%. The standard deviation of yields is 2.16 (n=200).
The current dividend yield is 0.16 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.64. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 576 funds or institutions reporting positions in SITE Centers. This is a decrease of 17 owner(s) or 2.87% in the last quarter. Average portfolio weight of all funds dedicated to SITC is 0.20%, a decrease of 16.50%. Total shares owned by institutions decreased in the last three months by 5.03% to 212,786K shares. The put/call ratio of SITC is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 11,032K shares representing 5.27% ownership of the company. In it’s prior filing, the firm reported owning 9,670K shares, representing an increase of 12.34%. The firm decreased its portfolio allocation in SITC by 5.23% over the last quarter.
IJR – iShares Core S&P Small-Cap ETF holds 9,273K shares representing 4.43% ownership of the company. No change in the last quarter.
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 8,592K shares representing 4.11% ownership of the company. In it’s prior filing, the firm reported owning 8,728K shares, representing a decrease of 1.58%. The firm decreased its portfolio allocation in SITC by 0.58% over the last quarter.
PGGM Investments holds 7,952K shares representing 3.80% ownership of the company. In it’s prior filing, the firm reported owning 7,273K shares, representing an increase of 8.54%. The firm decreased its portfolio allocation in SITC by 5.54% over the last quarter.
Janus Henderson Group holds 5,847K shares representing 2.79% ownership of the company. In it’s prior filing, the firm reported owning 5,351K shares, representing an increase of 8.48%. The firm decreased its portfolio allocation in SITC by 69.99% over the last quarter.
SITE Centers Background Information
(This description is provided by the company.)
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. A
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
