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SITE Centers Corp (SITC) Files 10-K for the Fiscal Year Ended on December 31, 2018

GuruFocus.com

- By insider

SITE Centers Corp (SITC) files its latest 10-K with SEC for the fiscal year ended on December 31, 2018. DDR Corp is a real estate investment trust engaged in the business of acquiring, owning, developing, expanding, leasing, financing and managing shopping centers. It owns and manages more than 100 million total square feet of gross leasable area. SITE Centers Corp has a market cap of $2.43 billion; its shares were traded at around $13.36 with a P/E ratio of 31.07 and P/S ratio of 3.12. The dividend yield of SITE Centers Corp stocks is 8.68%.


For the last quarter SITE Centers Corp reported a revenue of $121.5 million, compared with the revenue of $217.6 million during the same period a year ago. For the latest fiscal year the company reported a revenue of $661.7 million, a decrease of 28.2% from the previous year. For the last five years SITE Centers Corp had an average revenue decline of 4.7% a year.

The reported diluted earnings per share was 43 cents for the year, an increase of -129.1% from previous year. The SITE Centers Corp enjoyed an operating margin of 27.82%, compared with the operating margin of 18.84% a year before. The 10-year historical median operating margin of SITE Centers Corp is 28.01%. The profitability rank of the company is 5 (out of 10).

At the end of the fiscal year, SITE Centers Corp has the cash and cash equivalents of $11.1 million, compared with $92.6 million in the previous year. The long term debt was $1.9 billion, compared with $3.8 billion in the previous year. The interest coverage to the debt is 1.3, which is not a favorable level. SITE Centers Corp has a financial strength rank of 4 (out of 10).

At the current stock price of $13.36, SITE Centers Corp is traded at 20% discount to its historical median P/S valuation band of $16.70. The P/S ratio of the stock is 3.12, while the historical median P/S ratio is 3.91. The stock gained 10.97% during the past 12 months.

For the complete 20-year historical financial data of SITC, click here.

This article first appeared on GuruFocus.