The stock of SITE Centers Corp (NYSE: SITC) has increased by 0.46 when compared to last closing price of 13.11.Despite this, the company has seen a gain of 0.92% in its stock price over the last five trading days. The Motley Fool reported 2023-11-05 that Site Centers, formerly known as DDR, is breaking its strip mall business in two via a taxable spinoff. As DDR, the REIT spun off a portfolio of less-desirable assets so it could refocus on its remaining properties.
Is It Worth Investing in SITE Centers Corp (NYSE: SITC) Right Now?
SITE Centers Corp (NYSE: SITC) has a higher price-to-earnings ratio of 32.28x compared to its average ratio, and the 36-month beta value for SITC is at 1.61. Analysts have varying views on the stock, with 5 analysts rating it as a “buy,” 0 rating it as “overweight,” 7 as “hold,” and 0 as “sell.”
The average price suggested by analysts for SITC is $14.93, which is $1.76 above the current market price. The public float for SITC is 187.51M, and currently, shorts hold a 3.67% of that float. The average trading volume for SITC on November 17, 2023 was 1.88M shares.
SITC’s Market Performance
SITC’s stock has seen a 0.92% increase for the week, with a 12.76% rise in the past month and a 2.97% gain in the past quarter. The volatility ratio for the week is 2.53%, and the volatility levels for the past 30 days are at 2.90% for SITE Centers Corp The simple moving average for the past 20 days is 7.79% for SITC’s stock, with a 3.29% simple moving average for the past 200 days.
Analysts’ Opinion of SITC
Many brokerage firms have already submitted their reports for SITC stocks, with Wells Fargo repeating the rating for SITC by listing it as a “Overweight.” The predicted price for SITC in the upcoming period, according to Wells Fargo is $15 based on the research report published on September 20, 2023 of the current year 2023.
SITC Trading at 6.12% from the 50-Day Moving Average
After a stumble in the market that brought SITC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -9.95% of loss for the given period.
Volatility was left at 2.90%, however, over the last 30 days, the volatility rate increased by 2.53%, as shares surge +13.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.51% lower at present.
During the last 5 trading sessions, SITC rose by +1.07%, which changed the moving average for the period of 200-days by -6.85% in comparison to the 20-day moving average, which settled at $12.30. In addition, SITE Centers Corp saw -3.59% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at SITC starting from Fennerty Conor, who sale 12,000 shares at the price of $13.26 back on Jun 16. After this action, Fennerty Conor now owns 97,364 shares of SITE Centers Corp, valued at $159,120 using the latest closing price.
Cattonar John M, the EVP & Chief Investment Officer of SITE Centers Corp, sale 11,000 shares at $13.61 during a trade that took place back on Dec 27, which means that Cattonar John M is holding 40,922 shares at $149,743 based on the most recent closing price.
Stock Fundamentals for SITC
Current profitability levels for the company are sitting at:
- +24.00 for the present operating margin
- +32.20 for the gross margin
The net margin for SITE Centers Corp stands at +30.53. The total capital return value is set at 3.43, while invested capital returns managed to touch 4.44. Equity return is now at value 4.67, with 2.36 for asset returns.
Based on SITE Centers Corp (SITC), the company’s capital structure generated 86.48 points at debt to equity in total, while total debt to capital is 46.37. Total debt to assets is 44.61, with long-term debt to equity ratio resting at 89.77. Finally, the long-term debt to capital ratio is 44.10.
When we switch over and look at the enterprise to sales, we see a ratio of 8.10, with the company’s debt to enterprise value settled at 0.37. The receivables turnover for the company is 8.79 and the total asset turnover is 0.14.
In conclusion, SITE Centers Corp (SITC) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.