SITE Centers Corp (NYSE: SITC) has experienced a rise in its stock price by 47.02 compared to its previous closing price of 11.80. However, the company has seen a gain of 49.14% in its stock price over the last five trading days. businesswire.com reported 2024-10-01 that BEACHWOOD, Ohio–(BUSINESS WIRE)–SITE Centers Corp. (NYSE: SITC) (the “Company” or “SITE Centers”) today announced that it has completed the previously announced spin-off of Curbline Properties Corp. (“Curbline”), which is now an independent, publicly traded company that will begin regular-way trading today on the New York Stock Exchange (“NYSE”) under the ticker symbol “CURB.” Curbline is an owner of convenience shopping centers positioned on the curbline of well-trafficked intersections and.
Is It Worth Investing in SITE Centers Corp (NYSE: SITC) Right Now?
The price-to-earnings ratio for SITE Centers Corp (NYSE: SITC) is above average at 2.04x. The 36-month beta value for SITC is also noteworthy at 1.66. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 1 rating it as “overweight,” 9 rating it as “hold,” and 0 rating it as “sell.”
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The public float for SITC is 47.86M, and at present, short sellers hold a 3.18% of that float. The average trading volume of SITC on October 01, 2024 was 2.98M shares.
SITC’s Market Performance
The stock of SITE Centers Corp (SITC) has seen a 49.14% increase in the past week, with a 47.39% rise in the past month, and a 53.89% gain in the past quarter. The volatility ratio for the week is 1.43%, and the volatility levels for the past 30 days are at 1.94% for SITC. The simple moving average for the past 20 days is 51.32% for SITC’s stock, with a 55.44% simple moving average for the past 200 days.
Analysts’ Opinion of SITC
Wells Fargo, on the other hand, stated in their research note that they expect to see SITC reach a price target of $15. The rating they have provided for SITC stocks is “Overweight” according to the report published on September 20th, 2023.
Wells Fargo gave a rating of “Equal Weight” to SITC, setting the target price at $12.50 in the report published on May 24th of the previous year.
SITC Trading at 47.45% 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 able to rebound, for now settling with 38.03% of gains for the given period.
Volatility was left at 1.94%, however, over the last 30 days, the volatility rate increased by 1.43%, as shares sank -69.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -72.11% lower at present.
During the last 5 trading sessions, SITC fell by -70.71%, which changed the moving average for the period of 200-days by -68.80% in comparison to the 20-day moving average, which settled at $56.75. In addition, SITE Centers Corp saw 63.15% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SITC starting from Fennerty Conor, who sale 5,850 shares at the price of $60.54 back on Aug 21 ’24. After this action, Fennerty Conor now owns 41,709 shares of SITE Centers Corp, valued at $354,159 using the latest closing price.
Fennerty Conor, the Officer of SITE Centers Corp, proposed sale 5,850 shares at $60.48 during a trade that took place back on Aug 21 ’24, which means that Fennerty Conor is holding shares at $353,792 based on the most recent closing price.
Stock Fundamentals for SITC
Current profitability levels for the company are sitting at:
- 0.47 for the present operating margin
- 0.7 for the gross margin
The net margin for SITE Centers Corp stands at 0.1. The total capital return value is set at 0.03. Equity return is now at value 21.06, with 11.33 for asset returns.
Based on SITE Centers Corp (SITC), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at 0.05. The debt to equity ratio resting at 0.89. The interest coverage ratio of the stock is 3.11.
Currently, EBITDA for the company is 207.2 million with net debt to EBITDA at 10.01. When we switch over and look at the enterprise to sales, we see a ratio of 9.68. The receivables turnover for the company is 4.29for trailing twelve months and the total asset turnover is 0.07.
Conclusion
In summary, SITE Centers Corp (SITC) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as 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.
