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SITE Centers (SITC)
NYSE:SITC

SITE Centers (SITC) AI Stock Analysis

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SITE Centers

(NYSE:SITC)

Rating:72Outperform
Price Target:
$14.00
▲(22.16%Upside)
SITE Centers' stock is bolstered by strong corporate events and solid technical indicators. Despite some financial risks in revenue and cash flow, the company's strategic asset sale and technical momentum provide a positive outlook. Valuation metrics indicate potential undervaluation, offering a promising opportunity for investors.
Positive Factors
Asset Sales
In Q3, SITC sold assets in excess of $1.3B, or 3x the expected amount for the quarter heading into the 10/1 spin date, an impressive feat.
Spin-off Impact
The CURB spin-off may unlock value for shareholders and management has a strong track record with similar transactions.
Negative Factors
Debt and Growth Potential
SITC is expected to continue selling assets to focus on debt repayment, which could impact future growth potential.
Investor Attention
CURB's presence is expected to absorb greater investor attention at the margin, impacting SITC.

SITE Centers (SITC) vs. SPDR S&P 500 ETF (SPY)

SITE Centers Business Overview & Revenue Model

Company DescriptionSITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.
How the Company Makes MoneySITE Centers makes money primarily through leasing retail space in its shopping centers to a diverse mix of tenants, including national and regional retailers, restaurants, and service providers. The company generates revenue from rental income, which includes base rent and additional charges such as common area maintenance, real estate taxes, and insurance. SITE Centers also seeks to enhance its earnings through strategic redevelopment and repositioning of its properties to attract higher-quality tenants and improve occupancy rates. Additionally, the company may engage in property sales and acquisitions as part of its portfolio management strategy to optimize asset value and returns.

SITE Centers Earnings Call Summary

Earnings Call Date:May 07, 2025
(Q2-2024)
|
% Change Since: 7.50%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Positive
The earnings call reflected a generally positive outlook with strong transaction activity and leasing performance, particularly in the Curbline portfolio. However, there were some concerns about occupancy challenges and volatility in operating metrics. Overall, the strategic focus on growth and strong leasing spreads were positive indicators.
Q2-2024 Updates
Positive Updates
Significant Transaction Activity
Closed nearly $1 billion of transactions in Q2 2024, including $951 million of wholly-owned property sales year-to-date, with an additional $1 billion of real estate under contract or negotiation.
Strong Leasing Performance
Reported 24% trailing 12-month new leasing spreads for the Curbline portfolio, with almost 50% straight-line new leasing rent spreads for the trailing 12-month period.
Convenience Portfolio Growth
Acquired five Convenience Properties in Q2 for $65 million and closed another $27 million of acquisitions in Q3 to date, with $200 million of additional Convenience assets awarded or under contract.
High Retention and Strong Credit
National tenant retention is mid-90%, and local tenant retention is around mid-80%, with an overall strong credit tenant base.
Negative Updates
Occupancy Challenges
Leased rate was down 100 basis points sequentially due to the sale of assets with high lease rates and acquisition of vacant spaces.
Volatility in Operating Metrics
Operating metrics for both SITE and Curb remain volatile due to a smaller asset base, with potential variability in future performance.
Company Guidance
During the SITE Centers' Q2 2024 earnings call, guidance provided included several key metrics and strategic updates. The company closed nearly $1 billion in transactions for the quarter, including over $50 million in debt purchases or retirements. The Curbline Properties portfolio, which is part of a planned spin-off expected in October 2024, reported a 24% trailing 12-month new leasing spread. The portfolio comprises 72 wholly-owned Convenience Properties, expected to generate about $84 million in NOI, and boasts a same-store NOI growth projection greater than 3% for the next three years. SITE Centers has closed $951 million in property sales year-to-date, with a total of $1.8 billion in dispositions at an average cap rate of 7.1%. The company has over $1 billion of real estate either under contract or in negotiation, with an anticipated overall cap rate in the mid-7s. The call emphasized the continued focus on acquisitions, with $65 million in Convenience Property purchases in Q2 and over $200 million awarded or under contract, highlighting an acquisition strategy centered on high-income areas and minimal CapEx requirements.

SITE Centers Financial Statement Overview

Summary
SITE Centers shows strong profitability with a high net profit margin and efficient use of equity, but faces challenges with declining revenue and free cash flow. The balance sheet is stable with moderate leverage.
Income Statement
72
Positive
SITE Centers has shown a solid performance with a strong net profit margin of 282.01% on a TTM basis, indicating exceptional profitability. However, the revenue growth rate is negative at -28.64% from 2023 to 2024, reflecting a contraction in sales. The EBIT margin is low at 5.51%, suggesting limited operational efficiency, but the EBITDA margin is exceptionally high at 353.67% due to significant non-operational income, perhaps from asset sales. Overall, profitability is robust, but revenue contraction is a concern.
Balance Sheet
65
Positive
The company's debt-to-equity ratio is 0.58, indicating moderate leverage and a relatively strong balance sheet position. The return on equity is high at 107.46%, showcasing efficient use of equity capital to generate net income. The equity ratio stands at 55.89%, highlighting a stable equity position in the capital structure. While the balance sheet reflects financial stability, the moderate leverage warrants cautious observation.
Cash Flow
68
Positive
Free cash flow growth is negative at -30.57%, which could be a concern for liquidity. However, the operating cash flow to net income ratio of 0.14 and free cash flow to net income ratio of 0.14 indicate that cash generation from operations is supportive of reported earnings. Despite the reduction in free cash flow, the overall cash flow position remains stable, although improvements in cash generation are needed.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue198.00M277.47M546.27M540.81M492.34M416.76M
Gross Profit127.76M181.80M380.55M370.82M339.56M278.36M
EBITDA700.18M716.89M339.27M361.16M372.32M263.06M
Net Income558.46M531.82M265.70M168.72M124.94M35.72M
Balance Sheet
Total Assets3.97B933.60M4.06B4.05B3.97B4.11B
Cash, Cash Equivalents and Short-Term Investments41.81M54.59M551.97M20.25M41.81M69.74M
Total Debt1.68B301.37M1.63B1.71B1.68B1.93B
Total Liabilities1.92B416.86M1.89B1.95B1.92B2.16B
Stockholders Equity2.04B516.74M2.18B2.09B2.04B1.94B
Cash Flow
Free Cash Flow77.81M112.04M238.53M257.26M282.51M190.17M
Operating Cash Flow77.81M112.04M238.53M257.26M282.51M190.17M
Investing Cash Flow1.76B1.84B559.90M-167.56M74.45M102.48M
Financing Cash Flow-2.33B-2.46B-250.62M-111.74M-380.98M-237.36M

SITE Centers Technical Analysis

Technical Analysis Sentiment
Positive
Last Price11.46
Price Trends
50DMA
10.84
Positive
100DMA
11.08
Positive
200DMA
12.41
Negative
Market Momentum
MACD
0.24
Negative
RSI
60.77
Neutral
STOCH
12.65
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SITC, the sentiment is Positive. The current price of 11.46 is above the 20-day moving average (MA) of 11.13, above the 50-day MA of 10.84, and below the 200-day MA of 12.41, indicating a neutral trend. The MACD of 0.24 indicates Negative momentum. The RSI at 60.77 is Neutral, neither overbought nor oversold. The STOCH value of 12.65 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SITC.

SITE Centers Risk Analysis

SITE Centers disclosed 37 risk factors in its most recent earnings report. SITE Centers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

SITE Centers Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
CBCBL
72
Outperform
$805.57M12.1121.87%6.14%0.03%1997.67%
72
Outperform
$597.87M1.1242.15%3.84%-42.71%152.66%
BFBFS
71
Outperform
$847.54M23.7513.86%6.74%5.00%-14.72%
KRKRG
67
Neutral
$4.88B365.100.81%4.80%4.37%-75.82%
MAMAC
66
Neutral
$4.30B-4.79%4.16%9.58%-3.85%
AKAKR
65
Neutral
$2.42B111.290.92%4.40%2.62%84.20%
64
Neutral
$6.97B18.66-1.93%6.82%4.65%-25.39%
* Real Estate Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SITC
SITE Centers
11.46
0.95
9.04%
MAC
Macerich
16.28
1.42
9.56%
BFS
Saul Centers
35.03
-1.17
-3.23%
AKR
Acadia Realty
18.42
-0.08
-0.43%
KRG
Kite Realty Group
22.52
0.55
2.50%
CBL
CBL & Associates Properties
26.21
3.44
15.11%

SITE Centers Corporate Events

M&A TransactionsBusiness Operations and Strategy
SITE Centers Sells Winter Garden Village for $165M
Positive
Jun 23, 2025

On June 18, 2025, SITE Centers Corp.’s subsidiary, DDR Winter Garden LLC, agreed to sell its interests in Winter Garden Village in Orlando, Florida, to RA2 – Winter Gardens Village LLC for approximately $165 million in cash. The transaction is expected to close in the third quarter of 2025, pending certain conditions such as zoning confirmations and satisfactory tenant estoppel letters. This sale reflects SITE Centers’ strategic move to optimize its property portfolio and potentially enhance its financial position.

The most recent analyst rating on (SITC) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on SITE Centers stock, see the SITC Stock Forecast page.

Executive/Board ChangesShareholder Meetings
SITE Centers Holds Annual Shareholder Meeting
Neutral
May 15, 2025

On May 14, 2025, SITE Centers Corp. held its annual meeting of shareholders, where several key decisions were made. Five directors were elected to serve until the next annual meeting, the compensation for the company’s named executive officers was approved, and PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

The most recent analyst rating on (SITC) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on SITE Centers stock, see the SITC Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 24, 2025