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SITE Centers

DB:DDR2
Snowflake Description

Second-rate dividend payer with poor track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DDR2
DB
$2B
Imp Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

SITE 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 last earnings update was 55 days ago. More info.


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DDR2 Share Price and Events
7 Day Returns
-5.4%
DB:DDR2
-0.7%
Europe REITs
1.5%
DE Market
1 Year Returns
-
DB:DDR2
-2.4%
Europe REITs
-6.2%
DE Market
DDR2 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
SITE Centers (DDR2) -5.4% -2.4% 4.4% - - -
Europe REITs -0.7% 1.2% 6.5% -2.4% 2.2% 14.4%
DE Market 1.5% 6% 8.5% -6.2% 10.7% 15.3%
1 Year Return vs Industry and Market
  • No trading data on DDR2.
  • No trading data on DDR2.
Price Volatility
DDR2
Industry
5yr Volatility vs Market

Value

 Is SITE Centers undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of SITE Centers to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for SITE Centers.

DB:DDR2 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:DDR2
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.537 (1 + (1- 21%) (80.88%))
0.92
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.92 * 5.96%)
5.71%

Discounted Cash Flow Calculation for DB:DDR2 using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for SITE Centers is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SITE Centers is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

DB:DDR2 DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 5.71%)
2019 168.54 Analyst x9 159.44
2020 171.94 Analyst x8 153.86
2021 161.19 Analyst x2 136.46
2022 149.70 Analyst x1 119.89
2023 158.20 Analyst x1 119.85
2024 154.66 Est @ -2.24% 110.84
2025 152.35 Est @ -1.5% 103.29
2026 150.86 Est @ -0.98% 96.75
2027 149.93 Est @ -0.62% 90.96
2028 149.38 Est @ -0.36% 85.74
Present value of next 10 years cash flows $1,177.08
DB:DDR2 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $149.38 × (1 + 0.23%) ÷ (5.71% – 0.23%)
$2,731.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,731.45 ÷ (1 + 5.71%)10
$1,567.67
DB:DDR2 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,177.08 + $1,567.67
$2,744.74
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,744.74 / 181.03
$15.04
DB:DDR2 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:DDR2 represents 0.85798x of NYSE:SITC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.85798x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 15.04 x 0.85798
€12.91
Value per share (EUR) From above. €12.91
Current discount Discount to share price of €11.39
= -1 x (€11.39 - €12.91) / €12.91
11.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price SITE Centers is available for.
Intrinsic value
12%
Share price is €11.39 vs Future cash flow value of €12.91
Current Discount Checks
For SITE Centers to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • SITE Centers's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • SITE Centers's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for SITE Centers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are SITE Centers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:DDR2 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.43
NYSE:SITC Share Price ** NYSE (2019-04-23) in USD $13.28
Europe REITs Industry PE Ratio Median Figure of 125 Publicly-Listed REITs Companies 12.27x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of SITE Centers.

DB:DDR2 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:SITC Share Price ÷ EPS (both in USD)

= 13.28 ÷ 0.43

30.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SITE Centers is overvalued based on earnings compared to the Europe REITs industry average.
  • SITE Centers is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does SITE Centers's expected growth come at a high price?
Raw Data
DB:DDR2 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
-89.4%per year
Europe REITs Industry PEG Ratio Median Figure of 61 Publicly-Listed REITs Companies 0.57x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:DDR2 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.72x ÷ -89.4%

-0.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SITE Centers earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on SITE Centers's assets?
Raw Data
DB:DDR2 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $8.39
NYSE:SITC Share Price * NYSE (2019-04-23) in USD $13.28
Europe REITs Industry PB Ratio Median Figure of 149 Publicly-Listed REITs Companies 0.98x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:DDR2 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:SITC Share Price ÷ Book Value per Share (both in USD)

= 13.28 ÷ 8.39

1.58x

* Primary Listing of SITE Centers.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • SITE Centers is overvalued based on assets compared to the Europe REITs industry average.
X
Value checks
We assess SITE Centers's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. SITE Centers has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is SITE Centers expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-89.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is SITE Centers expected to grow at an attractive rate?
  • SITE Centers's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • SITE Centers's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • SITE Centers's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:DDR2 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:DDR2 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts -89.4%
DB:DDR2 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts -13.3%
Europe REITs Industry Earnings Growth Rate Market Cap Weighted Average 7.3%
Europe REITs Industry Revenue Growth Rate Market Cap Weighted Average 2.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:DDR2 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:DDR2 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 0
2022-12-31 -5
2021-12-31 503 5 3
2020-12-31 491 15 8
2019-12-31 477 26 8
DB:DDR2 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 697 265 80
2018-09-30 783 306 -319
2018-06-30 880 362 -309
2018-03-31 894 376 -274
2017-12-31 917 410 -271
2017-09-30 943 412 -17
2017-06-30 964 440 -75
2017-03-31 987 471 -63
2016-12-31 1,017 461 37
2016-09-30 1,024 485 97
2016-06-30 1,029 457 216
2016-03-31 1,030 454 194

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • SITE Centers's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • SITE Centers's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:DDR2 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from SITE Centers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DDR2 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.00 0.00 0.00 1.00
2022-12-31 -0.03 -0.03 -0.03 1.00
2021-12-31 0.02 0.02 0.01 2.00
2020-12-31 0.07 0.11 0.05 5.00
2019-12-31 0.11 0.28 0.01 7.00
DB:DDR2 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.43
2018-09-30 -1.73
2018-06-30 -1.68
2018-03-31 -1.49
2017-12-31 -1.48
2017-09-30 -0.09
2017-06-30 -0.41
2017-03-31 -0.34
2016-12-31 0.20
2016-09-30 0.53
2016-06-30 1.19
2016-03-31 1.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • SITE Centers is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess SITE Centers's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
SITE Centers has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has SITE Centers performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare SITE Centers's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • SITE Centers's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • SITE Centers has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • SITE Centers has become profitable in the last year making it difficult to compare the Europe REITs industry average.
Earnings and Revenue History
SITE Centers's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from SITE Centers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:DDR2 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 697.35 79.77 57.00
2018-09-30 783.25 -319.20 67.75
2018-06-30 879.84 -309.41 59.19
2018-03-31 893.72 -274.09 67.50
2017-12-31 916.60 -271.43 59.16
2017-09-30 943.04 -16.82 63.99
2017-06-30 963.85 -75.30 76.10
2017-03-31 986.89 -63.00 76.93
2016-12-31 1,017.46 36.85 60.15
2016-09-30 1,023.97 96.57 72.58
2016-06-30 1,029.40 216.45 71.39
2016-03-31 1,029.90 193.76 72.16
2015-12-31 1,022.78 -95.83 72.88
2015-09-30 1,031.19 -221.70 75.67
2015-06-30 1,022.39 -270.48 77.61
2015-03-31 1,007.23 -223.05 77.43
2014-12-31 994.89 0.20 79.08
2014-09-30 966.17 42.10 79.21
2014-06-30 926.70 33.06 78.92
2014-03-31 876.23 -43.87 79.95
2013-12-31 833.25 -13.24 79.46
2013-09-30 819.38 -25.07 77.88
2013-06-30 805.85 -4.26 77.18
2013-03-31 801.14 2.02 76.19
2012-12-31 740.60 -2.02 76.24
2012-09-30 767.29 -22.22 75.20
2012-06-30 755.84 -79.38 74.31

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • SITE Centers has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • SITE Centers used its assets less efficiently than the Europe REITs industry average last year based on Return on Assets.
  • SITE Centers has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess SITE Centers's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
SITE Centers has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is SITE Centers's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up SITE Centers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • SITE Centers's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • SITE Centers's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of SITE Centers's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from SITE Centers Company Filings, last reported 3 months ago.

DB:DDR2 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 2,073.00 1,884.41 11.09
2018-09-30 1,974.99 2,385.00 11.45
2018-06-30 2,692.34 3,589.75 36.87
2018-03-31 2,772.32 3,741.52 21.26
2017-12-31 2,897.44 3,849.31 92.61
2017-09-30 3,189.02 4,017.53 18.27
2017-06-30 3,258.22 4,566.67 414.07
2017-03-31 3,127.25 4,520.93 19.72
2016-12-31 3,246.01 4,493.97 30.43
2016-09-30 3,280.65 4,966.38 20.66
2016-06-30 3,408.79 4,938.81 17.98
2016-03-31 3,438.92 5,031.67 23.72
2015-12-31 3,463.47 5,142.04 22.42
2015-09-30 3,438.34 5,226.88 21.04
2015-06-30 3,447.47 5,263.56 25.27
2015-03-31 3,493.18 5,250.89 55.99
2014-12-31 3,797.53 5,216.52 20.94
2014-09-30 3,868.54 5,240.34 134.32
2014-06-30 3,848.81 5,335.24 359.34
2014-03-31 3,849.94 5,249.42 163.84
2013-12-31 3,927.88 5,300.67 86.66
2013-09-30 3,352.33 4,602.06 35.35
2013-06-30 3,328.28 4,448.82 41.72
2013-03-31 3,367.59 4,369.39 18.87
2012-12-31 3,366.46 4,336.24 31.17
2012-09-30 3,335.96 4,326.69 20.23
2012-06-30 3,221.13 4,110.79 18.51
  • SITE Centers's level of debt (90.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (135% vs 90.9% today).
  • Debt is not well covered by operating cash flow (14.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess SITE Centers's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. SITE Centers has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is SITE Centers's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.02%
Current annual income from SITE Centers dividends. Estimated to be 6.05% next year.
If you bought €2,000 of SITE Centers shares you are expected to receive €120 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • SITE Centers's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • SITE Centers's dividend is above the markets top 25% of dividend payers in Germany (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:DDR2 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Europe REITs Industry Average Dividend Yield Market Cap Weighted Average of 119 Stocks 4.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:DDR2 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.80 1.00
2022-12-31 0.80 1.00
2021-12-31 0.80 5.00
2020-12-31 0.81 12.00
2019-12-31 0.80 12.00
DB:DDR2 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-11 0.800 5.999
2018-11-14 0.800 6.586
2018-09-12 0.800 6.349
2018-05-08 1.520 10.257
2018-02-14 1.520 10.385
2017-11-10 1.520 9.363
2017-09-13 1.520 8.728
2017-05-10 1.520 8.065
2017-02-10 1.520 6.024
2016-11-10 1.520 5.015
2016-09-08 1.520 4.600
2016-05-11 1.520 4.156
2016-01-04 1.520 4.472
2015-11-12 1.380 4.115
2015-09-10 1.380 4.285
2015-05-13 1.380 4.263
2015-01-05 1.380 3.693
2014-11-13 1.240 3.402
2014-09-10 1.240 3.574
2014-05-15 1.240 3.507
2014-01-06 1.240 3.799
2013-11-07 1.080 3.421
2013-09-12 1.080 3.311
2013-05-15 1.080 3.197
2013-01-07 1.080 3.125
2012-11-08 0.960 3.110
2012-08-29 0.960 3.104
2012-05-16 0.960 3.323
2012-01-05 0.960 3.374
2011-11-08 0.640 2.751
2011-09-14 0.480 2.093
2011-05-19 0.320 1.210
2011-01-10 0.320 1.149
2010-11-15 0.160 0.602
2010-09-09 0.160 0.654
2010-08-06 0.160 0.742
2010-08-03 0.160 0.684
2010-02-16 0.160 0.698
2009-12-02 0.160 0.885
2009-09-10 0.160 0.860
2009-05-28 1.600 14.088
2009-04-24 1.600 17.912

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of SITE Centers's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (260.4x coverage).
X
Income/ dividend checks
We assess SITE Centers's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can SITE Centers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. SITE Centers has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of SITE Centers's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Lukes
COMPENSATION $5,974,858
AGE 48
TENURE AS CEO 2.1 years
CEO Bio

Mr. David R. Lukes has been the Chief Executive Officer and President of SITE Centers Corp. since March 2, 2017. Mr. Lukes has been Chief Executive Officer and President of Retail Value Inc. since February 14, 2018 and its Director since April 2018. He served as the Chief Executive Officer of Equity One, Inc. at Gazit Globe Ltd. from June 02, 2014 to March 2017 and its President from December 31, 2016 to March 2017 and Executive Vice President from May 31, 2014 to June 2, 2014. He served as the President of Real Estate Development at Sears Holdings Corporation since March 2012. He served as the Chief Executive Officer and President at Olshan Properties (formerly Mall Properties, Inc.) from May 2010 to April 2012. From 2002 to 2010, he worked in various senior management positions at Kimco Realty Corporation. He served as the Chief Operating Officer at Kimco Realty Corporation from November 2008 to April 23, 2010 and served as its Executive Vice President until April 23, 2010. He served as the Chief Executive Officer and President at Seritage Realty Trust. He served as an Executive Vice President at Kimco where he held the responsibility for the financial performance of the U.S. and Puerto Rico portfolios as well as direction of the Redevelopment and Specialty Leasing Departments. Prior to joining the firm, he served as Development Director at Myers Development Company in San Francisco, where he was responsible for the entitlement, pre-development, leasing and construction of several mixed-use and high-rise properties. He has been a Director of DDR Corp. since March 2, 2017. He serves as a Director of Citycon Oyj. He served as a Director of Equity One, Inc. since June 2, 2014. Mr. Lukes holds Master of Real Estate Development from Columbia University, a Master of Architecture from the University of Pennsylvania and a Bachelor of Environmental Design from Miami University.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year.
  • David's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the SITE Centers management team in years:

2.1
Average Tenure
47
Average Age
  • The tenure for the SITE Centers management team is about average.
Management Team

David Lukes

TITLE
President
COMPENSATION
$6M
AGE
48
TENURE
2.1 yrs

Matt Ostrower

TITLE
Executive VP
COMPENSATION
$2M
AGE
47
TENURE
2.1 yrs

Mike Makinen

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
53
TENURE
2.1 yrs

Christa Vesy

TITLE
Executive VP & Chief Accounting Officer
COMPENSATION
$1M
AGE
47
TENURE
12.4 yrs

John Cattonar

TITLE
Senior Vice President of Investments
TENURE
1.9 yrs

Brandon Day-Anderson

TITLE
Head of Investor Relations

Eric Cotton

TITLE
Deputy General Counsel & Corporate Compliance Officer
TENURE
3.1 yrs

Aaron Kitlowski

TITLE
Executive VP
AGE
45
TENURE
1.4 yrs

Rob McGovern

TITLE
Senior Vice President of Leasing
TENURE
2.6 yrs

Conor Fennerty

TITLE
Senior Vice President of Capital Markets
Board of Directors Tenure

Average tenure and age of the SITE Centers board of directors in years:

3.1
Average Tenure
56.5
Average Age
  • The tenure for the SITE Centers board of directors is about average.
Board of Directors

Terry Ahern

TITLE
Chairman of the Board
COMPENSATION
$278K
AGE
62
TENURE
8.1 yrs

David Lukes

TITLE
President
COMPENSATION
$6M
AGE
48
TENURE
2.1 yrs

Victor MacFarlane

TITLE
Independent Director
COMPENSATION
$175K
AGE
66
TENURE
16.9 yrs

Jane DeFlorio

TITLE
Independent Director
COMPENSATION
$180K
AGE
48
TENURE
2.3 yrs

Thomas Finne

TITLE
Independent Director
COMPENSATION
$135K
AGE
59
TENURE
9.6 yrs

Alexander Otto

TITLE
Independent Director
COMPENSATION
$125K
AGE
51
TENURE
3.9 yrs

Linda Abraham

TITLE
Director
COMPENSATION
$41K
AGE
55
TENURE
0.5 yrs

Dawn Sweeney

TITLE
Director
COMPENSATION
$41K
AGE
58
TENURE
0.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. Jan 19 Buy David Lukes Individual 31. Dec 18 31. Dec 18 15,000 €9.61 €144,111
16. Aug 18 Buy Victor MacFarlane Individual 06. Jul 17 03. Jul 18 1,362 €15.89 €21,143
02. Jul 18 Buy Alexander Otto Individual 28. Jun 18 29. Jun 18 633,912 €15.42 €9,718,666
28. Jun 18 Buy Alexander Otto Individual 26. Jun 18 26. Jun 18 637,583 €15.29 €9,748,104
26. Jun 18 Buy Alexander Otto Individual 22. Jun 18 25. Jun 18 1,124,158 €15.37 €17,168,813
22. Jun 18 Buy Alexander Otto Individual 20. Jun 18 21. Jun 18 485,580 €15.45 €7,484,419
20. Jun 18 Buy Alexander Otto Individual 18. Jun 18 19. Jun 18 707,299 €14.90 €10,505,394
08. Jun 18 Sell Scott Roulston Individual 06. Jun 18 06. Jun 18 -10,734 €14.00 €-150,223
18. May 18 Buy Alexander Otto Individual 15. May 18 15. May 18 158,026 €12.25 €1,936,580
15. May 18 Buy Alexander Otto Individual 11. May 18 14. May 18 345,316 €12.52 €4,289,687
11. May 18 Buy Alexander Otto Individual 09. May 18 10. May 18 294,558 €12.60 €3,702,847
09. May 18 Buy Alexander Otto Individual 08. May 18 08. May 18 204,594 €12.39 €2,535,359
08. May 18 Buy Alexander Otto Individual 04. May 18 07. May 18 293,944 €12.40 €3,619,186
04. May 18 Buy Alexander Otto Individual 02. May 18 03. May 18 429,364 €12.12 €5,191,985
02. May 18 Buy Alexander Otto Individual 30. Apr 18 01. May 18 523,142 €12.17 €6,365,347
30. Apr 18 Buy Alexander Otto Individual 27. Apr 18 27. Apr 18 354,468 €12.29 €4,357,895
X
Management checks
We assess SITE Centers's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. SITE Centers has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

SITE 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.

Details
Name: SITE Centers Corp.
DDR2
Exchange: DB
Founded:
$2,079,167,533
$2,062,607,156
181,030,344
Website: http://www.sitecenters.com
Address: SITE Centers Corp.
3300 Enterprise Parkway,
Beachwood,
Ohio, 44122,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE SITC Common Shares New York Stock Exchange US USD 02. Feb 1993
DB DDR2 Common Shares Deutsche Boerse AG DE EUR 02. Feb 1993
NYSE SITC.PRJ DEP SH CUM PFD J New York Stock Exchange US USD 19. Jul 2012
NYSE SITC.PRA DEP SH CUM PFD A New York Stock Exchange US USD 31. May 2017
NYSE SITC.PRK DEP SH CUM PFD K New York Stock Exchange US USD 28. Mar 2013
Number of employees
Current staff
Staff numbers
378
SITE Centers employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 21:32
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.