SITE Centers Corp. (NYSE: SITC) stock fell -1.34% on Friday to $14.02 against a previous-day closing price of $14.21. With 1.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.37 million shares. During the session, the REIT – Retail company that operates in wider Real Estate sector, reached to the highest price of $14.21 whereas the lowest price it dropped to was $13.91. The 52-week range on SITC shows that it touched its highest point at $17.61 and its lowest point at $12.40 during that stretch. It currently has a 1-year price target of $16.17. With its current market cap of 2.89 billion, SITC has annualized dividend of $0.52 while the current yield stands at 3.71%. Beta for the stock currently stands at 1.54.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SITC was down-trending over the past week, with a drop of -3.77%, but this was up by 4.70% over a month. Three-month performance dropped to -13.46% while six-month performance fell -5.91%. The stock lost -9.14% in the past year, while it has lost -11.43% so far this year. A look at the trailing 12-month EPS for SITC yields 0.70 with Next year EPS estimates of 0.21. For the next quarter, that number is 0.04. This implies an EPS growth rate of 552.50% for this year and -10.73% for next year. EPS is expected to decline by -6.04% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 35.20%.
Float and Shares Shorts:
At present, 213.86 million SITC shares are outstanding with a float of 177.70 million shares on hand for trading. On Jul 14, 2022, short shares totaled 8.01 million, which was 3.75% higher than short shares on Jun 14, 2022. In addition to Mr. David R. Lukes as the firm’s Pres, CEO & Director, Mr. Conor M. Fennerty serves as its Exec. VP, CFO & Treasurer.
Through their ownership of 91.83% of SITC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.25% of SITC, in contrast to 35.54% held by mutual funds. Shares owned by individuals account for 13.73%. As the largest shareholder in SITC with 13.60% of the stake, The Vanguard Group, Inc. holds 29,078,643 shares worth 29,078,643. A second-largest stockholder of SITC, BlackRock Fund Advisors, holds 24,564,540 shares, controlling over 11.49% of the firm’s shares. Cohen & Steers Capital Management is the third largest shareholder in SITC, holding 12,053,373 shares or 5.64% stake. With a 4.34% stake in SITC, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 9,273,175 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.09% of SITC stock, is the second-largest Mutual Fund holder. It holds 8,744,773 shares valued at 117.79 million. Vanguard Total Stock Market Index holds 2.50% of the stake in SITC, owning 5,344,005 shares worth 71.98 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SITC since 14 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 9 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SITC analysts setting a high price target of $21.00 and a low target of $13.00, the average target price over the next 12 months is $16.23. Based on these targets, SITC could surge 49.79% to reach the target high and fall by -7.28% to reach the target low. Reaching the average price target will result in a growth of 15.76% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SITC will report FY 2022 earnings on 02/16/2023. Analysts have provided yearly estimates in a range of $0.46 being high and $0.15 being low. For SITC, this leads to a yearly average estimate of $0.28. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SITE Centers Corp. surprised analysts by $0.23 when it reported $0.27 EPS against a consensus estimate of $0.04. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is $0.06 and the low estimate is $0.03. The average estimate for the next quarter is thus $0.04.
Summary of Insider Activity:
Insiders traded SITC stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 5,841 shares were bought while 2,819 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 659,661 while 3,191,502 shares were sold.