SITE Centers Corp (SITC) Stock Could Soon Reward Patient Investors

SITE Centers Corp (NYSE: SITC) is 1.61% higher on its value in year-to-date trading and has touched a low of $10.75 and a high of $14.54 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SITC stock was last observed hovering at around $13.78 in the last trading session, with the day’s gains setting it 0.07%.

Currently trading at $13.85, the stock is 1.44% and 2.18% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.54 million and changing 0.51% at the moment leaves the stock 7.48% off its SMA200. SITC registered 1.91% gain for a year compared to 6-month loss of 0.52%. The firm has a 50-day simple moving average (SMA 50) of $8.55 and a 200-day simple moving average (SMA200) of $12.05.

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The stock witnessed a 2.37% gain in the last 1 month and extending the period to 3 months gives it a 9.39%, and is 3.59% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.52% over the week and 2.27% over the month.

SITE Centers Corp (SITC) has around Dec 26 2023 employees, a market worth around $2.90B and $561.64M in sales. Current P/E ratio is 33.95 and Fwd P/E is 113.53. Profit margin for the company is 15.30%. Distance from 52-week low is 28.79% and -4.74% from its 52-week high. The company has generated returns on investments over the last 12 months (2.24%).

SITE Centers Corp quarterly earnings per share for the current quarter are estimated at $0.02 with sales reaching $129.52M over the same period.The EPS is expected to shrink by -55.84% this year, but quarterly earnings will post 0.50% year-over-year. Quarterly sales are estimated to shrink -5.10% in year-over-year returns.

SITE Centers Corp (SITC) Top Institutional Holders

352 institutions hold shares in SITE Centers Corp (SITC), with institutional investors hold 106.84% of the company’s shares. The shares outstanding are 210.58M, and float is at 187.47M with Short Float at 3.75%. Institutions hold 95.57% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 31.3 million shares valued at $413.79 million. The investor’s holdings represent 14.96% of the SITC Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 30.06 million shares valued at $397.42 million to account for 14.36% of the shares outstanding. The other top investors are JP Morgan Chase & Company which holds 18.09 million shares representing 8.64% and valued at over $239.17 million, while FMR, LLC holds 6.34% of the shares totaling 13.27 million with a market value of $175.38 million.

SITE Centers Corp (SITC) Insider Activity

A total of 14 insider transactions have happened at SITE Centers Corp (SITC) in the last six months, with sales accounting for 2 and purchases happening 12 times. The most recent transaction is an insider sale by Fennerty Conor ,the company’sEVP, CFO & Treasurer. SEC filings show that Fennerty Conor sold 12,000 shares of the company’s common stock on Jun 16 at a price of $13.26 per share for a total of $0.16 million. Following the sale, the insider now owns 97364.0 shares.