SITE Centers Corp. (NYSE: SITC) stock fell -1.20% on Thursday to $11.51 against a previous-day closing price of $11.65. With 1.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.91 million shares. During the session, the REIT – Retail company that operates in wider Real Estate sector, reached to the highest price of $11.60 whereas the lowest price it dropped to was $11.39. The 52-week range on SITC shows that it touched its highest point at $16.04 and its lowest point at $10.42 during that stretch. It currently has a 1-year price target of $14.62. With its current market cap of 2.42 billion, SITC has annualized dividend of $0.52 while the current yield stands at 4.52%. Beta for the stock currently stands at 1.55.
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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 -2.70%, but this was down by -2.95% over a month. Three-month performance dropped to -14.87% while six-month performance fell -14.36%. The stock lost -25.07% in the past year, while it has lost -15.74% so far this year. A look at the trailing 12-month EPS for SITC yields 0.74 with Next year EPS estimates of 0.18. For the next quarter, that number is 0.03. This implies an EPS growth rate of 45.50% for this year and 11.25% 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 18.20%.
Float and Shares Shorts:
At present, 209.97 million SITC shares are outstanding with a float of 176.38 million shares on hand for trading. On Apr 27, 2023, short shares totaled 7.23 million, which was 3.46% higher than short shares on Mar 30, 2023. 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.
Institutional Ownership:
Through their ownership of 95.30% of SITC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.36% of SITC, in contrast to 36.15% held by mutual funds. Shares owned by individuals account for 10.41%. As the largest shareholder in SITC with 14.53% of the stake, The Vanguard Group, Inc. holds 30,556,229 shares worth 30,556,229. A second-largest stockholder of SITC, BlackRock Fund Advisors, holds 26,490,962 shares, controlling over 12.59% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in SITC, holding 12,197,720 shares or 5.80% stake. With a 4.39% stake in SITC, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 9,245,447 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 4.00% of SITC stock, is the second-largest Mutual Fund holder. It holds 8,406,246 shares valued at 103.73 million. Vanguard Total Stock Market ETF holds 2.64% of the stake in SITC, owning 5,543,979 shares worth 68.41 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, SITC reported revenue of $140.68M and operating income of $35.41M. The EBITDA in the recently reported quarter was $86.66M and diluted EPS was $0.27.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SITC since 0 analysts follow the stock currently. 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 $12.00, the average target price over the next 12 months is $14.38. Based on these targets, SITC could surge 82.45% to reach the target high and rise by 4.26% to reach the target low. Reaching the average price target will result in a growth of 24.93% 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.
Summary of Insider Activity:
Insiders traded SITC stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 559,559 shares were bought while 285,656 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 683,418 while 392,221 shares were sold.
