Market Analysts see SITE Centers Corp. [SITC] gaining to $17. Time to buy?

SITE Centers Corp. [NYSE: SITC] jumped around 0.28 points on Wednesday, while shares priced at $13.38 at the close of the session, up 2.14%. The company report on December 20, 2022 that SITE Centers Announces New $100 Million Common Stock Repurchase Plan.

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SITE Centers Corp. (NYSE: SITC), an owner of open-air shopping centers in suburban, high household income communities, today announced that the Company’s Board of Directors authorized a new $100 million common stock repurchase program. Availability under the Company’s prior repurchase program was exhausted in December following fourth quarter repurchases of approximately $22.2 million funded with proceeds from wholly-owned property dispositions.

The Company may utilize various methods to affect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing of repurchases will depend upon several factors, including market and business conditions, and the repurchases may be discontinued at any time.

SITE Centers Corp. stock is now -15.48% down from its year-to-date (YTD) trading value. SITC Stock saw the intraday high of $13.63 and lowest of $13.365 per share. The company’s 52-week high price is 17.22, which means current price is +28.41% above from all time high which was touched on 04/26/22.

Compared to the average trading volume of 1.89M shares, SITC reached a trading volume of 2847865 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 $14.73 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 2.40. 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.

Mizuho have made an estimate for SITE Centers Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 16, 2022. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on September 23, 2021, representing the official price target for SITE Centers Corp. stock. Previously, the target price had yet another raise to $15, while KeyBanc Capital Markets analysts kept a Overweight rating on SITC stock. On January 14, 2021, analysts increased their price target for SITC shares from 11 to 13.

The Average True Range (ATR) for SITE Centers Corp. is set at 0.33, with the Price to Sales ratio for SITC stock in the period of the last 12 months amounting to 5.30. The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 0.10. Price to Free Cash Flow for SITC in the course of the last twelve months was 62.55.

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 -1.55. With this latest performance, SITC shares gained by 1.36% in over the last four-week period, additionally plugging by 0.22% over the last 6 months – not to mention a drop of -9.84% 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 55.91, with the RSI for the last a single of trading hit 55.16, and the three-weeks RSI is set at 55.97 for SITE Centers Corp. [SITC]. The present Moving Average for the last 50 days of trading for this stock 12.68, while it was recorded at 13.20 for the last single week of trading, and 13.91 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 +26.60 and a Gross Margin at +35.33. SITE Centers Corp.’s Net Margin is presently recorded at +23.76.

Return on Equity for this stock inclined to 6.25, with Return on Assets sitting at 3.08.

Earnings analysis for SITE Centers Corp. [SITC]

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 $2,511 million, or 89.60% of SITC stock, in the hands of institutional investors. The top three institutional holders of SITC stocks are: VANGUARD GROUP INC with ownership of 31,084,808, which is approximately 1.121% of the company’s market cap and around 9.90% of the total institutional ownership; BLACKROCK INC., holding 29,912,818 shares of the stock with an approximate value of $400.23 million in SITC stocks shares; and STATE STREET CORP, currently with $155.66 million in SITC stock with ownership of nearly 1.423% of the company’s market capitalization.

Positions in SITE Centers Corp. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 139 institutional holders increased their position in SITE Centers Corp. [NYSE:SITC] by around 15,331,384 shares. Additionally, 102 investors decreased positions by around 17,009,891 shares, while 39 investors held positions by with 155,292,630 shares. The mentioned changes placed institutional holdings at 187,633,905 shares, according to the latest SEC report filing. SITC stock had 35 new institutional investments in for a total of 7,162,984 shares, while 27 institutional investors sold positions of 3,967,122 shares during the same period.

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