Welcome to our dedicated page for SITE Centers Common Shares news (Ticker: SITC), a resource for investors and traders seeking the latest updates and insights on SITE Centers Common Shares stock.
SITE Centers Corp. (SITC) is a leading United States-based self-administered and self-managed real estate investment trust (REIT). Operating as a fully integrated real estate company, SITE Centers Corp. excels in owning, leasing, acquiring, redeveloping, and managing high-quality shopping centers. The company’s portfolio is strategically concentrated in high barrier-to-entry markets with stable populations and high growth potential, including top markets across the United States and Puerto Rico.
Known for its value-oriented approach, SITE Centers Corp. actively manages its assets to create long-term shareholder value. Recent achievements have seen the company working on multiple redevelopment projects aimed at enhancing the shopping experience and increasing operational efficiency. With a solid financial condition, the company continues to seek opportunities for growth through acquisitions and strategic partnerships.
Publicly traded on the New York Stock Exchange under the ticker symbol SITC, SITE Centers Corp. remains committed to delivering value to its investors. For additional information and the latest updates, you can visit their official website at www.ddr.com.
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SITE Centers Corp. (SITC) will host its First Quarter 2024 Earnings Conference Call on April 30, 2024, at 8:00 a.m. Eastern Time, where financial and operational results for the quarter ended March 31, 2024, will be discussed.
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SITE Centers Corp. (SITC) announced the declaration of its first quarter 2024 Preferred Class A stock dividend of $0.39844 per depositary share. Each Class A depositary share is equivalent to one-twentieth of a share of SITE Centers’ 6.375% Class A Cumulative Redeemable Preferred Stock. The dividend covers the period from January 15, 2024, to April 14, 2024, and will be paid in cash on April 15, 2024, to shareholders of record as of March 28, 2024.
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SITE Centers Corp. (SITC) announced strong operating results for the quarter and year ended December 31, 2023, highlighted by a planned spin-off of Convenience assets, significant transaction activity, and financings. Net income for the fourth quarter increased to $193.6 million, with Operating FFO at $54.0 million. Full-year net income was $254.5 million, with Operating FFO at $247.9 million. The Company sold shopping centers, acquired new properties, and closed on substantial mortgages. Quarterly results showed growth in SSNOI and positive leasing spreads. The Company declared a dividend of $0.13 per share for Q1 2024, projecting strong property NOI for 2024.
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SITE Centers Corp. (SITC) will release its financial and operational results for the quarter ended December 31, 2023, on February 13, 2024. The company will host its quarterly earnings conference call and audio webcast on the same day at 8:00 a.m. Eastern Time. Interested parties can access the call and webcast through various channels, including the company's website. A replay will also be available for future review.
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SITE Centers Corp. (NYSE: SITC) announces tax allocations of 2023 distributions for common and preferred shares. Shareholders need to report the amounts indicated on Form 1099-DIV on their 2023 federal income tax returns. The tax allocations for 2024 will include the January 5, 2024 common share distribution. Common shares (NYSE: SITC) had total distributions of $0.680000 per share, while preferred Class A Depositary Shares (NYSE: SITC_pa) had total distributions of $1.593760 per share.
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SITE Centers Corp. (SITC) provided an update on Q4 2023 and Q1 2024 transaction activity, including the sale of 12 properties in Q4, totaling $854.5 million in dispositions since June 30, 2023. They also acquired $62.4 million of Convenience assets in Q4 and expect to close three additional properties with gross proceeds of roughly $120 million in the next few weeks.
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SITE Centers Corp. (SITC) declares a cash special dividend of $0.16 per share as a result of 2023 transaction activity. The dividend will be payable on January 12, 2024, to shareholders of record as of December 27, 2023.
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SITE Centers Corp. (NYSE: SITC) declares its fourth quarter 2023 Preferred Class A stock dividend of $0.39844 per depositary share, covering the period from October 15, 2023, to January 14, 2024. The dividend is payable in cash on January 16, 2024, to shareholders of record at the close of business on December 29, 2023.
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SITE Centers Corp. (NYSE: SITC) reported third-quarter operating results, with net income of $45.9 million, down from $63.4 million in the year-ago period. Operating funds from operations (OFFO) increased to $69.9 million from $62.8 million. The company sold 11 shopping centers for $645.6 million and acquired three convenience shopping centers for $28.1 million during the quarter. Quarterly same-store net operating income (SSNOI) increased by 2.9% compared to the previous year. The leased rate was 94.6% at the end of the quarter. The company updated its full-year guidance for net income and OFFO per share.
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SITE Centers Corp. plans to spin-off its Convenience assets into a separate publicly-traded REIT named Curbline Properties Corp. The spin-off will unlock a unique, focused growth company in the Convenience sector. Curbline Properties is expected to have a net cash, debt-free position and limited capital needs, allowing for significant asset growth. SITE Centers will continue to maximize value through leasing and redevelopment efforts. The Company obtained a $1.1B financing commitment and expects to repay all outstanding unsecured debt. SITE Centers also declared a Q4 dividend of $0.13 per share and expects to declare a special cash dividend of at least $0.10 per share. The spin-off is expected to be completed in the second half of 2024.
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FAQ
What is the current stock price of SITE Centers Common Shares (SITC)?
The current stock price of SITE Centers Common Shares (SITC) is $15.62 as of November 15, 2024.
What is the market cap of SITE Centers Common Shares (SITC)?
The market cap of SITE Centers Common Shares (SITC) is approximately 821.1M.
What does SITE Centers Corp. specialize in?
SITE Centers Corp. specializes in owning, leasing, acquiring, redeveloping, and managing high-quality shopping centers.
Where are SITE Centers Corp.'s properties located?
SITE Centers Corp.'s properties are located in top markets across the United States and Puerto Rico.
What is the ticker symbol for SITE Centers Corp. on the New York Stock Exchange?
The ticker symbol for SITE Centers Corp. on the New York Stock Exchange is SITC.
How does SITE Centers Corp. create long-term shareholder value?
SITE Centers Corp. creates long-term shareholder value by actively managing its assets, focusing on high-growth markets, and engaging in redevelopments and acquisitions.
Is SITE Centers Corp. a self-managed company?
Yes, SITE Centers Corp. is a self-administered and self-managed real estate investment trust (REIT).
What recent projects has SITE Centers Corp. undertaken?
SITE Centers Corp. has been involved in various redevelopment projects aimed at enhancing shopping experiences and operational efficiency.
How can I get more information about SITE Centers Corp.?
You can visit their official website at www.ddr.com for more information.
What are the growth strategies of SITE Centers Corp.?
SITE Centers Corp.'s growth strategies include acquiring new properties, redeveloping existing assets, and forming strategic partnerships.
How does SITE Centers Corp. select its property markets?
SITE Centers Corp. selects property markets that have high barriers to entry, stable populations, and high growth potential.
What type of real estate company is SITE Centers Corp.?
SITE Centers Corp. is a fully integrated real estate investment trust (REIT).
SITE Centers Corp. Common Shares
NYSE:SITC
SITC Rankings
SITC Stock Data
821.06M
52.43M
8.93%
91.76%
2.83%
REIT - Retail
Real Estate Investment Trusts
United States of America
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