SITC Earnings Prediction
The chart below shows how SITC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SITC sees a -2.42% change in stock price 10 days leading up to the earnings, and a -0.45% change 10 days following the report. On the earnings day itself, the stock moves by +0.55%. This data can give you a slight idea of what to expect for the next quarter's release.
SITC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
115.67M
-16.28%
-5.26%
Gross Margin
68.33%
0.37%
-0.06%
Operating Margin
23.45%
42.90%
-6.39%
Net Margin
205.97%
5222.22%
-1167.76%
EPS
4.45
44400.00%
-3523.08%
No Data Available
SITC Earnings Analysis
SITE Centers Corp. Corporation (SITC.N) Earnings Conference Call
Positive
-Convenience portfolio saw significant progress with over $1 billion in transactions, $50 million in debt retired, and 24% leasing spreads for the Curbline portfolio.
-Curbline strategy has shown strong financial performance, with high retention rates, strong credit, and low CapEx needs, leading to expected same-store NOI averaging greater than 3% for the next three years.
-Curbline portfolio only represents a quarter of 1% of the total U.S. Convenience inventory, indicating a substantial growth opportunity for the company.
-Expected spin-off completion for Curbline Properties on October 1, with no debt and $600 million cash, providing a strong foundation for future growth and returns.
-Site Centers' disposition activity has been robust, with over $1.8 billion in closed dispositions at a blended cap rate of 7.1%, demonstrating strong buyer interest and market health.
-Leasing momentum remains strong, with leasing volume up sequentially, and notable tenants like Cava, Panda Express, and Comcast joining the portfolio.
Negative
- Lease activity declined by 100 basis points sequentially due to the sale of assets with a high leased rate of almost 97%, impacting overall leased rate.
- Curbline leasing spreads were negatively affected by the acquisition of vacant space at Meadowmont Village and the recapture of two vintage restaurant pads, impacting the lease rate.
- Despite strong leasing velocity and demand, operating metrics for SITE and Curb remain volatile due to a smaller asset base, impacting overall operational stability.
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SITC Earning Call Sentiment
SITE Centers Corp. (SITC) Q2 2024 Earnings Call Transcript
1.0x
00:00
00:00
SITC.N
-0.86%Positive
The earnings call highlights strong financial performance with significant debt repurchases, high cash reserves, and positive NOI growth expectations. The Q&A section reveals confidence in leasing activity and portfolio stability, despite potential economic downturns. The market cap of $2.99 billion suggests a moderate reaction, leading to a positive stock price movement prediction of 2% to 8% over the next two weeks.