Welcome to our dedicated page for Site Ctrs news (Ticker: SITC), a resource for investors and traders seeking the latest updates and insights on Site Ctrs stock.
SITE Centers Corp. (NYSE: SITC) is a self-administered and self-managed REIT that owns and manages open-air shopping centers. The company’s news flow in recent periods has been dominated by announcements related to property sales, special distributions, and its broader plan to sell remaining assets and wind up its business. Investors following SITC news can track how the company executes on this disposition strategy and how proceeds are allocated between debt repayment and shareholder distributions.
Recent SITE Centers news releases highlight the sale of multiple retail properties across several U.S. markets, including assets such as Winter Garden Village, East Hanover Plaza, Southmont Plaza, Stow Community Center, Nassau Park Pavilion, Paradise Village Gateway, Parker Pavilions, Downtown Short Pump and Perimeter Pointe. Many of these announcements specify sale prices, closing conditions and the use of proceeds to repay mortgage indebtedness or other loan facilities. Other news items describe special cash distributions on the company’s common shares, reflecting the return of capital generated by these transactions.
In addition to individual property transactions, SITE Centers issues quarterly earnings and operating updates that summarize disposition activity, leasing performance and key financial metrics such as net income, Operating Funds From Operations (Operating FFO) and Net Operating Income (NOI). These releases also discuss the impact of the spin-off of Curbline Properties and the classification of those assets as discontinued operations in prior periods.
For investors and analysts, the SITC news page provides a centralized view of SITE Centers’ progress in selling its open-air shopping centers, managing its capital structure and advancing its stated wind-up plan. Regularly reviewing these updates can help market participants understand the timing and scale of property sales, changes in the remaining portfolio and the pattern of special distributions to shareholders.
SITE Centers Corp. (NYSE: SITC) reported strong second-quarter results for 2021 with a net income of $13.8 million, reversing a loss from the previous year. This positive outcome reflects improved collections and increased leasing activity, along with nearly $50 million invested in new acquisitions. Operating funds from operations rose to $65.3 million. The company also reported a 29.9% increase in Same Store NOI and a leased rate of 91.8%. However, guidance for 2021 shows updated net income estimates reflecting operational changes and improved forecasts for FFO and Operating FFO.
SITE Centers Corp. (NYSE: SITC) will announce its financial results for the quarter ending June 30, 2021, before the market opens on July 29, 2021. The Company will hold a conference call at 10:00 a.m. ET the same day to discuss these results. Interested participants can listen in via phone or webcast. A replay will also be available post-call. SITE Centers focuses on owning and managing open-air shopping centers in suburban areas with high household incomes, functioning as a self-managed real estate investment trust.
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SITE Centers Corp. (NYSE: SITC) announced its Q2 2021 operational update and the acquisition of Shoppes at Addison Place in Delray Beach, FL for $40 million. The acquisition aligns with the company's strategy to invest in convenience-oriented properties in high-income communities. As of June 2, 2021, the company achieved impressive rent collections, with 98% and 97% of aggregate base rents paid for April and May 2021, respectively, and 99.8% of tenants operational. This reflects a positive trend in leasing and collections after a strong Q1.
SITE Centers Corp. (NYSE: SITC) announced that CEO David Lukes will present at Nareit’s REITweek: Virtual Investor Conference on June 8, 2021, at 8:00 a.m. Eastern Time. Investors can access the live presentation or replay by registering online. The presentation materials will also be available on the Company’s investor relations website. SITE Centers is a self-administered REIT that owns and manages open-air shopping centers in suburban, affluent areas. For further details, visit the Company’s website.
SITE Centers Corp. (NYSE: SITC) announced a second quarter 2021 Preferred Class A stock dividend of $0.39844 per depositary share, payable on July 15, 2021. This dividend corresponds to the period from April 15 to July 14, 2021, with shareholders of record on June 29, 2021, eligible for payment. Each depositary share represents one-twentieth of a share of the company's 6.375% Class A Cumulative Redeemable Preferred Stock. SITE Centers manages open-air shopping centers in affluent suburban areas.
SITE Centers Corp. (NYSE: SITC) announced a second quarter 2021 common stock dividend of $0.12 per share, marking a 9% increase from the first quarter. Shareholders on record by June 10, 2021 will receive the dividend on July 2, 2021. This dividend reflects the company's commitment to returning value to shareholders despite the challenges posed by market conditions and the COVID-19 pandemic.
SITE Centers Corp. (NYSE: SITC) reported Q1 2021 net income of $10.9 million ($0.05 per diluted share), down from $29.2 million ($0.15 per diluted share) year-over-year, largely due to the COVID-19 pandemic's impact. Operating FFO was $55.3 million ($0.28 per diluted share), a decrease from $61.2 million ($0.32 per diluted share). The company raised over $200 million in growth capital and reported a leased rate of 91.4%. As of April 16, 2021, 99% of tenants were operational, with rent collection at 96% for Q1 2021.
SITE Centers Corp. (NYSE: SITC) has declared a dividend of $0.39844 per Class A depositary share for Q1 2021, payable on April 15, 2021, to shareholders of record by March 30, 2021. This dividend pertains to the Class A Cumulative Redeemable Preferred Stock, with each depositary share representing one-twentieth of a share. Additionally, the company plans to redeem its 6.250% Class K Preferred Stock at a price of $507.2049 per share, with payments made after April 7, 2021.
SITE Centers Corp. (NYSE: SITC) reaffirms its 2021 OFFO guidance of $0.90 to $1.00 per share, following a solid start to the year with strong tenant collections. Approximately 95% and 94% of base rents for January and February 2021 were collected, respectively. The company raised $196 million in net common equity to reduce leverage and support growth. As of March 4, 2021, 98% of tenants were operational. The investor presentation will be available on March 8, 2021.
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