SITE Centers Corp. [SITC] stock Upgrade by KeyBanc Capital Markets analyst, price target now $15

SITE Centers Corp. [NYSE: SITC] gained 4.09% or 0.63 points to close at $16.04 with a heavy trading volume of 2857656 shares. The company report on July 29, 2021 that SITE Centers Reports Second Quarter 2021 Operating Results.

SITE Centers Corp. (NYSE: SITC), an owner of open-air shopping centers in affluent, suburban communities, announced operating results for the quarter ended June 30, 2021.

“SITE Centers had a very strong second quarter with continued improvements in collections and deferral repayment trends, strong leasing activity and the deployment of nearly $50 million of capital into new acquisitions,” commented David R. Lukes, President and Chief Executive Officer. “Looking forward, I am very encouraged by the strength of our leasing and operational prospects along with our balance sheet capacity to invest additional capital as opportunities arise.”.

It opened the trading session at $15.51, the shares rose to $16.525 and dropped to $15.51, the range by which the price of stock traded the whole day. The daily chart for SITC points out that the company has recorded 38.28% gains over the past six months. However, it is still -143.4% lower than its most recent low trading price.

If we look at the average trading volume of 1.86M shares, SITC reached to a volume of 2857656 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $15.94 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.

KeyBanc Capital Markets have made an estimate for SITE Centers Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 04, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $11 to $13. The new note on the price target was released on January 14, 2021, representing the official price target for SITE Centers Corp. stock. Previously, the target price had yet another raise from $8 to $11.50, while Wells Fargo kept a Overweight rating on SITC stock.

The Average True Range (ATR) for SITE Centers Corp. is set at 0.51, with the Price to Sales ratio for SITC stock in the period of the last 12 months amounting to 7.28. The Price to Book ratio for the last quarter was 1.73, with the Price to Cash per share for the same quarter was set at 0.92. Price to Free Cash Flow for SITC in the course of the last twelve months was 34.23.

Trading performance analysis for SITC stock

SITE Centers Corp. [SITC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.08. With this latest performance, SITC shares gained by 6.86% in over the last four-week period, additionally plugging by 38.28% over the last 6 months – not to mention a rise of 111.89% 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 61.38, with the RSI for the last a single of trading hit 65.47, and the three-weeks RSI is set at 59.22 for SITE Centers Corp. [SITC]. The present Moving Average for the last 50 days of trading for this stock 15.09, while it was recorded at 15.50 for the last single week of trading, and 12.45 for the last 200 days.

SITE Centers Corp. [SITC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and SITE Centers Corp. [SITC] shares currently have an operating margin of +19.81 and a Gross Margin at +37.62. SITE Centers Corp.’s Net Margin is presently recorded at +7.23.

Return on Total Capital for SITC is now 2.48, given the latest momentum, and Return on Invested Capital for the company is 0.93. Return on Equity for this stock inclined to 1.81, 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 113.07, with the Long-Term Debt to Total Capital now at 46.69.

Reflecting on the efficiency of the workforce at the company, SITE Centers Corp. [SITC] managed to generate an average of $109,960 per employee. Receivables Turnover for the company is 6.93 with a Total Asset Turnover recorded at a value of 0.12.

SITE Centers Corp. [SITC]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at SITE Centers Corp. [SITC]

There are presently around $2,740 million, or 83.40% of SITC stock, in the hands of institutional investors. The top three institutional holders of SITC stocks are: BLACKROCK INC. with ownership of 29,146,150, which is approximately 6.836% of the company’s market cap and around 11.10% of the total institutional ownership; VANGUARD GROUP INC, holding 25,523,780 shares of the stock with an approximate value of $409.4 million in SITC stocks shares; and COHEN & STEERS, INC., currently with $206.65 million in SITC stock with ownership of nearly -9.006% 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 July and at the time of the July reporting period, where 114 institutional holders increased their position in SITE Centers Corp. [NYSE:SITC] by around 24,593,770 shares. Additionally, 82 investors decreased positions by around 11,774,385 shares, while 35 investors held positions by with 134,445,834 shares. The mentioned changes placed institutional holdings at 170,813,989 shares, according to the latest SEC report filing. SITC stock had 23 new institutional investments in for a total of 2,923,353 shares, while 20 institutional investors sold positions of 1,926,630 shares during the same period.

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