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Tuesday, March 21, 2023

SITE Centers Corp. (NYSE: SITC) Could Achieve Gains In The Near Future

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for SITE Centers Corp. (SITC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.07, or 0.57%, to $12.44. The SITE Centers Corp. has recorded 174,700 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that SITE Centers Declares First Quarter 2023 Class A Preferred Share Dividend.

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Stocks Info

SITE Centers Corp. is listed on the NYSE in the Real Estate sector while operating in the REIT – Retail industry. At the end of the last regular session, the stock closed at $12.37 and fluctuated between $12.43 as its day high and $12.13 as its day low. The current market capitalization of SITE Centers Corp. is $2.70B. A total of 2.39 million shares were traded on the day, compared to an average of 1.83M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, SITC has seen 5 BUY and 1 SELL insider trades, representing the acquisition of 10,165 and the disposition of 11,000 shares. Over the last 12 months, there were 13 BUYs and 8 SELLs from insiders. Insiders purchased 25,789 shares during that period but sold 400,324.

In the most recent transaction, Cattonar John M sold 11,000 shares of SITC for 13.61 per share on Dec 27. After the transaction, the EVP & Chief Investment Officer now owns 40,922 company shares. In a previous transaction on Apr 28, Lukes David R sold 310,797 shares at 16.59 per share. SITC shares that President & CEO owns now total 1,164,513.

Among the insiders who sold shares, Vesy Christa A disposed of 35,000 shares on Mar 29 at a per-share price of $16.88. This resulted in the EVP & CAO holding 89,309 shares of SITC after the transaction. In another insider transaction, Fennerty Conor sold 9,500 shares at $16.18 per share on Mar 22. Company shares held by the EVP, CFO & Treasurer now total 86,533.


The reasons why investors prefer dividend-paying companies are that dividends generate immediate cash flow and indicate that the company will perform well in the future. SITE Centers Corp. pays an annual dividend of $0.52, resulting in a dividend yield of 4.20%, and it has a price to earnings (P/E) ratio of 16.88. SITC’s most recent ex-dividend date was 3/16/2023 when it declared a $0.13 quarterly dividend that was paid in cash on 4/6/2023. Previously, the company paid the dividend on 1/6/2023 with an ex-dividend date of 12/8/2022. The SITC stock dividend was $0.13 per share in cash.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for SITC in the last 3 months, the mean price target is $15.02 with high estimates of $21.00 and low estimates of $13.00. In terms of 52-week highs and lows, SITC has a high of $17.22 and a low of $10.42.

As of this writing, SITC has an earnings estimate of $0.08 per share for the current quarter. EPS was calculated based on a consensus of 3 estimates, with a high estimate of $0.17 per share and a lower estimate of $0.03. The company reported an EPS of $0.3 in the last quarter, which was 650.00% higher than expectations of $0.04.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 13 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for SITC is Hold with a score of 3.60. A total of 4 analysts rated the stock as Buy while 0 rated it as Overweight while 9 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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