NYSE:SITC.PRK

Stock Analysis Report

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Executive Summary

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.


Snowflake Analysis

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has SITE Centers's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SITC.PRK's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.9%

SITC.PRK

3.3%

US REITs

1.7%

US Market


1 Year Return

-17.4%

SITC.PRK

-8.6%

US REITs

8.5%

US Market

Return vs Industry: SITC.PRK underperformed the US REITs industry which returned -8.6% over the past year.

Return vs Market: SITC.PRK underperformed the US Market which returned 8.5% over the past year.


Shareholder returns

SITC.PRKIndustryMarket
7 Day12.9%3.3%1.7%
30 Day7.1%7.8%9.5%
90 Day-16.1%-14.4%0.1%
1 Year-11.8%-17.4%-4.8%-8.6%11.0%8.5%
3 Year1.6%-16.4%13.6%-0.4%32.2%23.5%
5 Year12.9%-17.9%44.4%14.7%58.6%40.8%

Price Volatility Vs. Market

How volatile is SITE Centers's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is SITE Centers undervalued compared to its fair value and its price relative to the market?

10.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SITC.PRK ($21) is trading below our estimate of fair value ($23.53)

Significantly Below Fair Value: SITC.PRK is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: SITC.PRK is good value based on its PE Ratio (20.8x) compared to the REITs industry average (28x).

PE vs Market: SITC.PRK is poor value based on its PE Ratio (20.8x) compared to the US market (15.8x).


Price to Earnings Growth Ratio

PEG Ratio: SITC.PRK's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: SITC.PRK is good value based on its PB Ratio (0.8x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

How is SITE Centers forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-57.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SITC.PRK's earnings are forecast to decline over the next 3 years (-57.4% per year).

Earnings vs Market: SITC.PRK's earnings are forecast to decline over the next 3 years (-57.4% per year).

High Growth Earnings: SITC.PRK's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SITC.PRK's revenue (2.3% per year) is forecast to grow slower than the US market (8.9% per year).

High Growth Revenue: SITC.PRK's revenue (2.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SITC.PRK is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has SITE Centers performed over the past 5 years?

22.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SITC.PRK has high quality earnings.

Growing Profit Margin: SITC.PRK's current net profit margins (12.1%) are lower than last year (28%).


Past Earnings Growth Analysis

Earnings Trend: SITC.PRK has become profitable over the past 5 years, growing earnings by 22.8% per year.

Accelerating Growth: SITC.PRK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SITC.PRK had negative earnings growth (-63.3%) over the past year, making it difficult to compare to the REITs industry average (5.3%).


Return on Equity

High ROE: SITC.PRK's Return on Equity (5.1%) is considered low.


Next Steps

Financial Health

How is SITE Centers's financial position?


Financial Position Analysis

Short Term Liabilities: SITC.PRK's short term assets ($585.4M) exceed its short term liabilities ($185.2M).

Long Term Liabilities: SITC.PRK's short term assets ($585.4M) do not cover its long term liabilities ($2.3B).


Debt to Equity History and Analysis

Debt Level: SITC.PRK's debt to equity ratio (112.1%) is considered high.

Reducing Debt: SITC.PRK's debt to equity ratio has reduced from 150.4% to 112.1% over the past 5 years.

Debt Coverage: SITC.PRK's debt is not well covered by operating cash flow (12%).

Interest Coverage: SITC.PRK's interest payments on its debt are not well covered by EBIT (2.3x coverage).


Balance Sheet


Next Steps

Dividend

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

11.49%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SITC.PRK's dividend (11.49%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: SITC.PRK's dividend (11.49%) is in the top 25% of dividend payers in the US market (4.48%)


Stability and Growth of Payments

Stable Dividend: SITC.PRK's dividend payments have been volatile in the past 10 years.

Growing Dividend: SITC.PRK's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (82.9%), SITC.PRK's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SITC.PRK's dividends in 3 years are forecast to be thoroughly covered by earnings (0.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

David Lukes (49yo)

3.25yrs

Tenure

US$6,640,725

Compensation

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 ...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD6.64M) is above average for companies of similar size in the US market ($USD3.18M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
David Lukes
President3.25yrsUS$6.64m0.14% $1.7m
Conor Fennerty
Executive VP0.58yrUS$2.62m0.031% $365.2k
Michael Makinen
Executive VP & COO3.25yrsUS$2.56m0.024% $280.3k
Christa Vesy
Executive VP & Chief Accounting Officer13.58yrsUS$767.44k0.053% $628.9k
John Cattonar
Senior Vice President of Investments3.08yrsno datano data
Brandon Day-Anderson
Head of Investor Relationsno datano datano data
Eric Cotton
Deputy General Counsel & Corporate Compliance Officer4.25yrsno datano data
Aaron Kitlowski
Executive VP2.58yrsno datano data
Rob McGovern
Senior Vice President of Leasing3.75yrsno datano data
Kim Scharf
Senior Vice President of Information Technology3.17yrsno datano data

3.3yrs

Average Tenure

48yo

Average Age

Experienced Management: SITC.PRK's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Lukes
President3.25yrsUS$6.64m0.14% $1.7m
Terrance Ahern
Independent Chairman of the Board9.25yrsUS$315.02k0.14% $1.6m
Victor MacFarlane
Independent Director18.08yrsUS$180.02k0.042% $497.8k
Alexander Otto
Independent Director5.08yrsUS$150.05k16.98% $199.9m
Thomas Finne
Independent Director10.75yrsUS$170.02k0.028% $326.0k
Jane DeFlorio
Independent Director3.42yrsUS$215.02k0.013% $150.0k
Dawn Sweeney
Independent Director1.67yrsUS$200.03k0.012% $143.3k
Linda Abraham
Independent Director1.67yrsUS$195.02k0.013% $156.8k

4.3yrs

Average Tenure

57.5yo

Average Age

Experienced Board: SITC.PRK's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SITC.PRK insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.1%.


Top Shareholders

Company Information

SITE Centers Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: SITE Centers Corp.
  • Ticker: SITC.PRK
  • Exchange: NYSE
  • Founded:
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.177b
  • Market Cap: US$1.338b
  • Shares outstanding: 192.69m
  • Website: https://www.sitecenters.com

Number of Employees


Location

  • SITE Centers Corp.
  • 3300 Enterprise Parkway
  • Beachwood
  • Ohio
  • 44122
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SITCNYSE (New York Stock Exchange)YesCommon SharesUSUSDFeb 1993
DDR2DB (Deutsche Boerse AG)YesCommon SharesDEEURFeb 1993
SITC.PRKNYSE (New York Stock Exchange)DEP SH CUM PFD KUSUSDMar 2013
SITC.PRANYSE (New York Stock Exchange)DEP SH CUM PFD AUSUSDMay 2017

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/03 04:20
End of Day Share Price2020/06/02 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.