The stock of SITE Centers Corp. (NYSE:SITC) increased by $0.03 on Wednesday to $13.31, up 0.23 percent. The last five days have seen an average of 1,129,831 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$0.29. The average number of shares traded over the last 20 days was 1,242,783, while the average volume over the last 50 days totaled 1,640,903.
SITC stock dropped -4.86% since last month. On 08/22/23, the company’s shares reached a one-month low of $12.65. The stock touched a high of $14.62 on 07/24/23, after rallying from a low of $10.42 in 52 weeks. The price of SITC stock has declined by -2.56% or -$0.29 this year, reaching a new high 8 times. Still, the stock price is down -8.99% from the 52-week high.
Insider Transactions
SITC stock investors should be aware that SITE Centers Corp. (SITC) stock had its last reported insider trading activity 75 days ago on Jun 16. On Jun 16, EVP, CFO & Treasurer Fennerty Conor sold 12,000 shares at $13.26 each. This transaction resulted in the insider making $159,120. On Dec 27, Cattonar John M sold 11,000 shares at a price of US$13.61. After the transaction, the insider now owns 40,922 shares.
Valuation Metrics
SITE Centers Corp. (SITC) has a trailing price-to-earnings (P/E) ratio of 27.50. Beta for the stock is 1.59. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.03, the price-to-book (PB) ratio of 1.51, and the price-to-cash flow ratio of 89.57.
Company paid $0.13 per share in dividends, remained unchanged from $0.13 last year. A $0.01 dividend increase was reported on Thursday February 10 2022.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.97, and the total debt to equity ratio is 0.97. As far as profitability goes, gross margin for the trailing twelve months is 69.20% percent. SITE Centers Corp.’s operating margin stood at 22.50% for the same period. Based on annual data, it had gross profit of $129.72 million and revenue of $552.35 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SITC’s return on assets (ROA) during the last 12 months has been 2.50%. There was a 4.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 5.50%.
Earnings Surprise
According to SITE Centers Corp.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $138.16 million, while revenues fell by -1.82% to $138.69 million. It was predicted that SITE Centers Corp.’s quarterly earnings would be $0.01, but it ended up being $0.03, beating the consensus by -66.70%. EBITDA was $82.47 million for the quarter. At the end of SITE Centers Corp.’s most recent quarter ended June 29, its total debt was $1.8 billion. Equity owned by shareholders amounts to $209.27 million.
Technical Picture
Here’s a quick look at SITE Centers Corp.’s (SITC) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 54.24%, suggesting the stock is Neutral, with a 18.00% historical volatility rate.
The stochastic %K and %D were 41.60% and 29.30% respectively, while the average true range (ATR) was 0.28. Based on the 14-day stochastic reading of 55.34%, the RSI (14) reading is 49.71%. On the 9-day MACD Oscillator, the stock is at 0.26, and the 14-day reading is at 0.10.
Analyst Ratings
In its analyst report released on May 24, 2023, Wells Fargo began covering SITE Centers Corp. (NYSE: SITC). The stock was rated as an Equal weight by the brokerage firm. Analysts have assigned SITE Centers Corp. (SITC) an Overweight rating. SITC is a stock that is recommended for selling by 0 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 4 others recommend it as a buy.
What is SITC’s price target for the next 12 months?
The current consensus forecast for the stock is between $13.00 and $21.00, with a median target price of $15.00. In analyzing these forecasts, the average price target given by analysts for SITE Centers Corp. (SITC) is $15.31.
