Site Ctrs Corp Stock Price, News & Analysis

SITE Centers Corp (NYSE: SITC) has announced its upcoming first quarter 2025 earnings release schedule. The company plans to disclose its Q1 2025 financial results after the market closes on Wednesday, May 7, 2025.

The Beachwood, Ohio-based company's announcement is a standard quarterly earnings release notification, providing investors and stakeholders with the timing of their financial performance disclosure.

SITE Centers (NYSE: SITC) reported its Q4 2024 financial results, marking a period of significant corporate restructuring. The company posted a net loss of $13.2 million ($0.25 per diluted share), compared to net income of $193.6 million ($3.69 per diluted share) in Q4 2023.

Key highlights include:

• Operating FFO of $8.3 million ($0.16 per diluted share), down from $54.0 million ($1.03 per diluted share) year-over-year
• Leased rate of 91.1% as of December 31, 2024
• Commenced rate increased to 90.6%
• Generated cash renewal leasing spreads of 10.6%

The company completed several strategic initiatives, including the redemption of $175 million in preferred shares and the spin-off of Curbline Properties (NYSE: CURB) on October 1, 2024, which included 79 convenience properties and $800 million in cash distribution.

SITE Centers Corp. (NYSE: SITC) has announced its schedule for fourth quarter 2024 earnings release. The company will publish its financial results before the market opens on February 27, 2025.

SITE Centers Corp. (NYSE: SITC) has released its tax allocations for 2024 dividend distributions for both common and preferred shares, including details of the Curbline Properties Corp. spin-off. For common shares, quarterly distributions were $0.13 per share, with each payment consisting of $0.0375 in capital gains and $0.0925 in return of capital. The Curbline Properties spin-off represented a significant distribution of $44.58 per share.

For Preferred Class A Depositary Shares, distributions totaled $1.3768 per share for the year, paid quarterly at $0.3984 for the first three quarters and $0.1815 for the final period. All preferred share distributions were classified as capital gains with no ordinary dividends or return of capital components.

SITE Centers has provided tax information regarding the Curbline Properties spin-off distribution. On October 1, 2024, SITE Centers shareholders received two Curbline Properties shares per share held, with a fair market value of $22.29 per CURB share for federal tax purposes. The distribution is estimated to be approximately 21% taxable capital gain and 79% return of capital. The final tax treatment will be reported on Form 1099-DIV in January 2025, with potential changes based on SITE Centers' full-year 2024 operating results.

SITE Centers (NYSE: SITC) reported third quarter 2024 results, highlighting net income of $320.2 million ($6.07 per diluted share), up from $45.9 million in the year-ago period. Operating FFO was $42.8 million ($0.81 per diluted share), down from $69.9 million. The company completed significant transactions including the sale of 25 shopping centers for $1.4 billion and the spin-off of Curbline Properties. The company's leased rate decreased to 91.3% from 94.6% year-over-year. SITE Centers projects 2024 property level NOI between $94.7-$96.9 million.

SITE Centers Corp. (NYSE: SITC) has announced its plans to release its third quarter 2024 earnings report. The company will make this financial information public before the market opens on Wednesday, October 30, 2024. This announcement provides investors and analysts with a specific date to anticipate the release of SITE Centers' latest financial results, allowing them to prepare for potential market reactions and analysis of the company's performance.

Curbline Properties Corp. (NYSE: CURB) has completed its separation from SITE Centers Corp. (NYSE: SITC) on October 1, 2024, becoming an independent publicly traded company. The separation involved a distribution where SITC shareholders received two CURB common shares for every SITC common share held as of September 23, 2024.

The fair market value of CURB's common stock for federal income tax purposes has been determined to be $22.29 per share, based on the average closing price during its first three trading days. The impact of this distribution on SITC shareholders' tax basis will be detailed in an IRS Form 8937, expected to be available on SITE Centers' website in Q1 2025.

SITE Centers Corp. (NYSE: SITC) has completed the spin-off of Curbline Properties Corp. (NYSE: CURB), which is now an independent, publicly traded company. Curbline, an owner of convenience shopping centers in suburban, high-income areas, will begin regular-way trading on the NYSE. The company plans to elect REIT status for tax purposes.

SITE Centers shareholders received two shares of Curbline common stock for every one common share of SITE Centers held at the close of business on September 23, 2024. Curbline's properties are positioned on well-trafficked intersections and major vehicular corridors, focusing on convenience-oriented retail locations.