Added to YB: 2025-05-19
Pitch date: 2025-03-30
SITC [bullish]
SITE Centers Corp.
+1.38%
current return
Author Info
No bio for this author
Company Info
SITE Centers is an owner and manager of open-air shopping centers located primarily in suburban, high household income communities.
Market Cap
$363.6M
Pitch Price
$7.22
Price Target
18.00 (+146%)
Dividend
N/A
EV/EBITDA
7.96
P/E
12.75
EV/Sales
3.46
Sector
Retail REITs
Category
special_situation
SITE Centers Corp. - $SITC
SITC: Retail REIT trading at 9.4% cap rate vs private market ~7.5% due to poor communication, perceived quality issues, and post-CURB spinoff illiquidity. Liquidation thesis offers $18/sh (34% IRR, 1.4x MOIC) by 2026. Management already marketing assets, incentivized to sell. Even in downside case (8.4% cap rate), 9% IRR. Catalyst: asset sales, plan confirmation.
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