Market Analysts see SITE Centers Corp. [SITC] gaining to $13. Time to buy?

SITE Centers Corp. [NYSE: SITC] traded at a low on 03/02/21, posting a -5.68 loss after which it closed the day’ session at $12.79. The company report on March 2, 2021 that SITE Centers Announces Pricing of Common Shares Offering.

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SITE Centers Corp. (NYSE: SITC) (“SITE Centers” or the “Company”) announced the pricing of its public offering of 15,000,000 common shares at a price to public of $13.20 per share, for expected gross proceeds of $198.0 million. SITE Centers also granted the underwriters a 30-day option to purchase up to an additional 2,250,000 common shares. The offering is expected to close on March 4, 2021, subject to customary conditions.

Morgan Stanley and Wells Fargo Securities are serving as joint book-running managers for the offering.

The results of the trading session contributed to over 11089960 shares changing hands. Over the past one week, the price volatility of SITE Centers Corp. stands at 3.75% while the volatility over the past one month is 3.59%.

The market cap for SITC stock reached $2.49 billion, with 193.25 million shares outstanding and 153.59 million shares in the current float. Compared to the average trading volume of 1.62M shares, SITC reached a trading volume of 11089960 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about SITE Centers Corp. [SITC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SITC shares is $12.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SITC stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for SITE Centers Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 14, 2021. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $8 to $11.50. The new note on the price target was released on December 10, 2020, representing the official price target for SITE Centers Corp. stock.

The Average True Range (ATR) for SITE Centers Corp. is set at 0.52, with the Price to Sales ratio for SITC stock in the period of the last 12 months amounting to 5.41. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.36. Price to Free Cash Flow for SITC in the course of the last twelve months was 51.27.

How has SITC stock performed recently?

SITE Centers Corp. [SITC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.98. With this latest performance, SITC shares gained by 15.33% in over the last four-week period, additionally plugging by 64.18% over the last 6 months – not to mention a rise of 7.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SITC stock in for the last two-week period is set at 57.25, with the RSI for the last a single of trading hit 51.48, and the three-weeks RSI is set at 59.75 for SITE Centers Corp. [SITC]. The present Moving Average for the last 50 days of trading for this stock 11.40, while it was recorded at 13.37 for the last single week of trading, and 8.78 for the last 200 days.

SITE Centers Corp. [SITC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SITE Centers Corp. [SITC] shares currently have an operating margin of +19.99 and a Gross Margin at +37.21. SITE Centers Corp.’s Net Margin is presently recorded at +7.26.

Return on Total Capital for SITC is now 2.53, given the latest momentum, and Return on Invested Capital for the company is 0.92. Return on Equity for this stock inclined to 1.82, with Return on Assets sitting at 0.87. When it comes to the capital structure of this company, SITE Centers Corp. [SITC] has a Total Debt to Total Equity ratio set at 101.64. Additionally, SITC Total Debt to Total Capital is recorded at 50.41, with Total Debt to Total Assets ending up at 48.03. Long-Term Debt to Equity for the company is recorded at 122.07, with the Long-Term Debt to Total Capital now at 50.41.

Receivables Turnover for the company is 6.95 with a Total Asset Turnover recorded at a value of 0.12.

Earnings analysis for SITE Centers Corp. [SITC]

With the latest financial reports released by the company, SITE Centers Corp. posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 150.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SITC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SITE Centers Corp. go to -6.04%.

Insider trade positions for SITE Centers Corp. [SITC]

There are presently around $2,038 million, or 84.30% of SITC stock, in the hands of institutional investors. The top three institutional holders of SITC stocks are: BLACKROCK INC. with ownership of 27,281,289, which is approximately 5.54% of the company’s market cap and around 16.30% of the total institutional ownership; VANGUARD GROUP INC, holding 23,641,309 shares of the stock with an approximate value of $302.37 million in SITC stocks shares; and COHEN & STEERS, INC., currently with $181.08 million in SITC stock with ownership of nearly -11.611% of the company’s market capitalization.

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Positions in SITE Centers Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 97 institutional holders increased their position in SITE Centers Corp. [NYSE:SITC] by around 17,283,402 shares. Additionally, 103 investors decreased positions by around 17,461,963 shares, while 37 investors held positions by with 124,622,285 shares. The mentioned changes placed institutional holdings at 159,367,650 shares, according to the latest SEC report filing. SITC stock had 29 new institutional investments in for a total of 3,948,069 shares, while 23 institutional investors sold positions of 1,592,251 shares during the same period.

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