Cattonar John M Acquires SITE Centers Corp. (SITC) Shares

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SITE Centers Corp. (NYSE:SITC) finished Wednesday with a subtraction of -$0.41 to close at $13.22, a downside of -3.01 percent. An average of 1,921,720 shares of common stock have been traded in the last five days. There was a gain of $0.12 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 2,269,460 shares traded, while the 50-day average volume stands at 1,934,458.

SITC stock has increased by 1.93% in the last month. The company shares reached their 1-month lowest point of $12.80 on 12/20/22. With the stock rallying to its 52-week high on 04/26/22, shares of the company touched a low of $10.42 and a high of $17.22 in 52 weeks. It has reached a new high 9 times so far this year and lost -16.49% or -$2.61 in price. In spite of this, the price is down -23.23% from the 52-week high.


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Insider Transactions

SITC stock investors should be aware that SITE Centers Corp. (SITC) stock had its last reported insider trading activity 2 days ago on Dec 27. In this transaction, the insider spent $149,743. President & CEO, Lukes David R, disposed of 310,797 shares at a price of $16.59 on Apr 28. The insider now owns more than $5,155,283 worth of shares. Prior to that, EVP & CAO Vesy Christa A went on to Sale 35,000 shares at $16.88 each on Mar 29. An amount of $590,765 was transacted.

Valuation Metrics

SITE Centers Corp. (SITC) has a trailing price-to-earnings (P/E) ratio of 15.09. The stock’s beta is 1.55. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.09, the price-to-book (PB) ratio at 1.46, and the price-to-cash flow ratio at 60.06.

The company has a payout ratio of 58.00%. The company’s most recent quarterly dividend payment was $0.13 a share, without any change from last year. Its latest increase dividend $0.01 reported on Thursday February 10 2022.

Financial Health

Further, the company has a long term debt to equity ratio of 0.94 and a total debt to equity ratio of 0.94 for the quarter ending September 29. Its gross profit as reported stood at $131.99 million compared to revenue of $532.86 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, SITE Centers Corp.’s return on assets was 4.60%.

Earnings Surprise

For the three-month period that ended September 29, SITE Centers Corp. had $1.82 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $63.41 million in the quarter, while revenues of $57.6 million were grew 78.28%. The analyst consensus anticipated SITE Centers Corp.’s latest quarter earnings to come in at $0.04 per share, but it turned out to be $0.3, a 650.00% surprise. For the quarter, EBITDA amounted to $85.95 million. At the end of the quarter ending September 29, SITE Centers Corp.’s stock balance sheet showed total debt was $1.82 billion. Shareholders own equity worth $212.51 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at SITE Centers Corp. (SITC) price momentum. RSI 9-day as of the close on 28 December was 44.91%, suggesting the stock is Neutral, with historical volatility in this time frame at 34.84%.

As of today, SITC’s price is $13.48 +0.92% or $0.12 from its 5-day moving average. SITC is currently trading -1.71% lower than its 20-day SMA and -5.57% lower than its 100-day SMA. However, the stock’s current price level is +15.86% above the SMA50 and -16.91% below the SMA200.

The stochastic %K and %D were 59.48% and 66.28%, respectively, and the average true range (ATR) was 0.35. With the 14-day stochastic at 36.21% and the average true range at 0.35, the RSI (14) stands at 49.54%. The stock has reached 0.15 on the 9-day MACD Oscillator while the 14-day reading was at 0.12.

Analyst Ratings

Mizuho upgraded SITE Centers Corp. (NYSE: SITC) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for SITE Centers Corp. (SITC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SITC, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.

What is SITC’s price target for the next 12 months?

Analysts predict a range of price targets between $11.00 and $21.00, with a median target of $14.00. Taking a look at these predictions, the average price target given by analysts for SITE Centers Corp. (SITC) stock is $14.73.

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