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.
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SITE Centers Corp. reported a net loss of $26.3 million in the first quarter of 2024, attributing it to property dispositions and impairment charges. Operating FFO was $59.8 million, a decrease due to property dispositions offset by NOI growth. The company sold shopping centers, acquired convenience centers, and repurchased senior notes. Impairments of $66.6 million were recorded for development projects. A spin-off of Convenience assets into Curbline Properties Corp. is expected by October 2024. Key operating results include SSNOI growth of 1.5% and strong leasing spreads. Property NOI projections for 2024 show estimates for both SITE Centers and Curbline Properties.
