SITE CENTERS CORP. (SITC) Reports Q3 Earnings: What Key Metrics Have to Say
SITE CENTERS CORP. (SITC) reported $143.09 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.1%. EPS of $0.33 for the same period compares to $0.30 a year ago.
The reported revenue represents a surprise of +5.89% over the Zacks Consensus Estimate of $135.13 million. With the consensus EPS estimate being $0.28, the EPS surprise was +17.86%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how SITE CENTERS CORP. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Rental income- Percentage and overage rent: $1.10 million versus the six-analyst average estimate of $1.20 million. The reported number represents a year-over-year change of +37.4%.
Revenues- Rental income- Recoveries: $34.75 million compared to the $33.92 million average estimate based on six analysts. The reported number represents a change of +4.6% year over year.
Revenues- Rental income: $142.50 million versus $134.61 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +5.5% change.
Revenues- Rental income- Lease termination fees: $0.22 million versus $0.32 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -83.8% change.
Revenues- Rental income- Ancillary and other rental income: $1.51 million versus $1.63 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.7% change.
Revenues- Other property revenues: $0.59 million compared to the $0.78 million average estimate based on three analysts. The reported number represents a change of -44.9% year over year.
Revenues- Rental income- Minimum rents: $89.72 million versus $88.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Revenues- Rental income- Ground lease minimum rents: $6.30 million versus $6.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.
View all Key Company Metrics for SITE CENTERS CORP. here>>>
Shares of SITE CENTERS CORP. have returned -10.1% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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SITE CENTERS CORP. (SITC) : Free Stock Analysis Report
