SITE Centers Corp. Common Shares - SITC STOCK NEWS

Hudson Pacific Properties (NYSE: HPP) announced the appointment of Barry Sholem to its Board of Directors effective March 13, 2023, succeeding Robert Harris II. Sholem, founder of MSD Partners, brings extensive experience in real estate investment and management. He aims to leverage his skills to enhance shareholder value amidst ongoing industry dynamics. CEO Victor Coleman expressed gratitude for Harris's nine years of service, noting the strategic advantages of Sholem's appointment, particularly his track record through various market cycles. Hudson Pacific continues to focus on real estate solutions tailored for tech and media tenants.

SITE Centers Corp. (NYSE: SITC) has declared its first quarter 2023 Preferred Class A stock dividend of $0.39844 per depositary share. This dividend pertains to the period from January 15, 2023 to April 14, 2023 and is payable on April 17, 2023 to shareholders of record as of March 30, 2023. Each Class A depositary share represents one-twentieth of a share of the company’s 6.375% Class A Cumulative Redeemable Preferred Stock. SITE Centers focuses on managing open-air shopping centers in affluent suburban areas.

SITE Centers Corp. (NYSE: SITC) announced a dividend of $0.13 per share for Q1 2023. This dividend will be paid on April 6, 2023, to shareholders on record by the close of business on March 17, 2023. SITE Centers operates open-air shopping centers in affluent suburban areas, functioning as a self-administered and self-managed REIT. The company's strategic focus on high household income communities positions it favorably in the retail real estate market.

SITE Centers Corp. (NYSE: SITC) reported its operating results for Q4 and the year ended December 31, 2022. For Q4, net income attributable to common shareholders was $25.4 million, down from $56.2 million YoY. Operating FFO was $62.5 million, slightly lower than $63.8 million in the previous year. Annual net income increased to $157.6 million from $106.1 million, while Operating FFO rose to $253.3 million. The leased rate improved to 95.4%. Notable activities included acquiring a convenience shopping center for $5.8 million and selling assets for $166.7 million. The company forecasts 2023 net income per diluted share between $0.16 and $0.24.

SITE Centers Corp. (NYSE: SITC) will release its financial and operational results for the quarter ended December 31, 2022, on February 8, 2023, prior to market open. The company will conduct a quarterly earnings conference call and audio webcast on the same day at 8:30 a.m. Eastern Time. Interested parties can join via phone or listen online at the company’s investor relations website. A replay of the call will be available after the live event, accessible through specific phone numbers and the website until March 8, 2023. SITE Centers is a self-administered and self-managed real estate investment trust focused on open-air shopping centers.

SITE Centers Corp. (NYSE: SITC) has announced the tax allocations for 2022 distributions on its common and preferred shares. Shareholders should refer to Form 1099-DIV for details on allocations, which must be reported on their 2022 federal income tax returns. Key dates include the common share distribution on January 5, 2022, which is included in the 2022 allocations, while January 6, 2023's distribution will be allocated for 2023. Total distributions for common shares reached $0.510000 per share, while preferred shares totaled $1.593760. For more details, visit SITE Centers' website.

SITE Centers Corp. (NYSE: SITC) announced the sale of 4 shopping centers and 1 parcel totaling $166.3 million in Q4 2022. Proceeds funded $28.8 million in share repurchases at an average price of $13.33 per share, a $5.8 million acquisition, and debt repayment. The company also acquired 2 Convenience properties post-year end for $26.1 million. CEO David R. Lukes stated the sales enhance the balance sheet and growth potential. SITE Centers continues to seek investment opportunities throughout the year.

SITE Centers Corp. (NYSE: SITC) has announced a new $100 million stock repurchase program, following the exhaustion of its prior program in December, which used $22.2 million from property sales. The company intends to employ various methods for share repurchases, including open market transactions and accelerated repurchases. Timing will rely on market conditions, and the program could be paused at any time.

SITE Centers is a REIT focused on open-air shopping centers in affluent suburban areas.

SITE Centers Corp. (NYSE: SITC) has declared its fourth-quarter 2022 Preferred Class A stock dividend of $0.39844 per depositary share. This dividend applies to the period from October 15, 2022 to January 14, 2023, and will be paid on January 17, 2023 to shareholders on record as of December 30, 2022. Each Class A depositary share represents one-twentieth of a share of the company’s 6.375% Class A Cumulative Redeemable Preferred Stock, reflecting the company's commitment to providing income to its stakeholders.