SITE Centers Corp. (SITC) | Investment Case

1. Company Snapshot

1.a. 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 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.

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1.b. Last Insights on SITC

SITE Centers Corp.'s recent performance was negatively impacted by a "Hold" consensus recommendation from brokerages, with one analyst rating the stock as a sell. Additionally, Allianz Asset Management GmbH reduced its holdings in the company by 61.0% during the second quarter. Despite announcing a special cash distribution of $1.00 per common share, the company's earnings release and lack of significant growth initiatives may have contributed to the negative sentiment. The company's third-quarter 2025 earnings report did not seem to provide a significant boost. (Source: Marketbeat.com)

1.c. Company Highlights

Last Price	7.29
Change Percentage	1.04%
Open	7.28
Previous Close	7.22
Market Cap ( Millions)	383
Volume	1121718
Year High	15.93
Year Low	6.76
M A 50	7.95
M A 200	10.7

FCF Yield	-34.61%
Dividend Yield	78.82%
ROE	8.21%
Debt / Equity	82.76%
Net Debt / EBIDTA	125.66%
Price To Book	1.24
Price Earnings Ratio	10.17
Price To FCF	-2.89
Price To sales	7.36
EV / EBITDA	5.04

2. Transcript Summary

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3. NewsRoom

SITE Centers Provides Update on Disposition Activity and Go Forward Plan

Dec -04

Source: businesswire.com

SITE Centers Announces Special Common Stock Distribution and Debt Payoff

Dec -04

Source: businesswire.com

Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 14,531 Shares of Site Centers Corp. $SITC

Nov -29

Source: defenseworld.net

SITE Centers Announces Sales of Four Properties

Nov -21

Source: businesswire.com

SITE Centers Announces Sale of Paradise Village Gateway

Nov -20

Source: businesswire.com

REIT Replay: REIT Indexes Outperform Broader Markets During 1st Week Of November

Nov -11

Source: seekingalpha.com

Akeso Unveils Promising Preclinical Data for IL-1RAP Targeting Antibody (AK135) at SITC 2025

Nov -07

Source: prnewswire.com

Xilio Therapeutics Announces Late-Breaking Phase 2 Data for Vilastobart in Patients with MSS mCRC and High Plasma Tumor Mutational Burden at Society for Immunotherapy of Cancer (SITC) 40th Annual Meeting

Nov -07

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.50%)

6. Segments

Rental

Expected Growth: 3.5%

Rental growth driven by increasing demand for retail spaces, flexible lease terms, and amenities offered by SITE Centers Corp., attracting tenants seeking convenience and flexibility.

Fee and Other

Expected Growth: 3.5%

SITE Centers Corp's Fee segment is expected to grow driven by increasing demand for property management and leasing services, as well as the company's strategic expansion into high-growth markets.

7. Detailed Products

Retail Properties

SITE Centers Corp. owns and operates a diverse portfolio of retail properties, including shopping centers, strip centers, and single-tenant retail properties.

Mixed-Use Properties

SITE Centers Corp. develops and manages mixed-use properties that combine retail, office, and residential spaces.

Office Properties

SITE Centers Corp. owns and operates office properties, including single-tenant and multi-tenant buildings.

Apartment Communities

SITE Centers Corp. develops and manages apartment communities, offering a range of amenities and services.

Land Development

SITE Centers Corp. develops and sells land parcels to third-party developers and builders.

Property Management Services

SITE Centers Corp. offers property management services to third-party property owners.

8. SITE Centers Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

SITE Centers Corp. operates in a highly competitive industry, and there are many substitutes available to customers. However, the company's strong brand recognition and diversified portfolio of properties help to mitigate the threat of substitutes.

Bargaining Power Of Customers

SITE Centers Corp.'s customers have limited bargaining power due to the company's large portfolio of properties and diversified tenant base.

Bargaining Power Of Suppliers

SITE Centers Corp. has a moderate level of dependence on its suppliers, but the company's scale and diversified supply chain help to mitigate the bargaining power of suppliers.

Threat Of New Entrants

The threat of new entrants is low for SITE Centers Corp. due to the high barriers to entry in the real estate industry, including the need for significant capital and expertise.

Intensity Of Rivalry

The real estate industry is highly competitive, and SITE Centers Corp. faces intense rivalry from other real estate investment trusts (REITs) and private real estate companies.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	0.00%
Debt Cost	3.95%
Equity Weight	100.00%
Equity Cost	11.97%
WACC	11.97%
Leverage	0.00%

11. Quality Control: SITE Centers Corp. passed 2 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Brixmor Property Group

A-Score: 6.6/10

Value: 4.2

Growth: 5.2

Quality: 7.9

Yield: 8.0

Momentum: 5.0

Volatility: 9.0

1-Year Total Return ->

Four Corners Property Trust

A-Score: 6.5/10

Value: 4.8

Growth: 5.8

Quality: 6.0

Yield: 10.0

Momentum: 2.5

Volatility: 10.0

1-Year Total Return ->

National Retail Properties

A-Score: 6.4/10

Value: 4.5

Growth: 4.1

Quality: 8.1

Yield: 9.0

Momentum: 3.0

Volatility: 10.0

1-Year Total Return ->

Regency Centers

A-Score: 6.2/10

Value: 2.9

Growth: 4.3

Quality: 6.7

Yield: 8.0

Momentum: 5.0

Volatility: 10.0

1-Year Total Return ->

Tanger Factory Outlet

A-Score: 5.8/10

Value: 2.6

Growth: 4.6

Quality: 6.6

Yield: 7.0

Momentum: 5.0

Volatility: 9.0

1-Year Total Return ->

SITE Centers

A-Score: 5.7/10

Value: 8.2

Growth: 3.7

Quality: 7.5

Yield: 10.0

Momentum: 0.5

Volatility: 4.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

10.98%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

11.97%

SITE Centers Corp. - US82981J1097

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on SITC

1.c. Company Highlights

Average Quality

Medium Volatility

Fairly Valued

Earnings Miss

Expensive

Stable Momentum

Earnings Beats

More Volatile

Strong Momentum

Revenues Beats

Better Quality

Cheaper

Revenues Miss

Lower Yield

Weak Momentum

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.50%)

6. Segments

Rental

Expected Growth: 3.5%

Fee and Other

Expected Growth: 3.5%

7. Detailed Products

Retail Properties

Mixed-Use Properties

Office Properties

Apartment Communities

Land Development

Property Management Services

8. SITE Centers Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: SITE Centers Corp. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

7.29$

Current Price

7.29$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA