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 (SITC) is a self-managed retail REIT specializing in strategically located shopping centers across prime U.S. markets. This page serves as the definitive source for all official company updates and market-moving developments.
Investors and analysts will find timely access to earnings reports, property acquisitions, and redevelopment initiatives that shape SITC's portfolio strategy. Our curated news collection provides essential context on lease agreements, operational milestones, and management commentary critical for informed decision-making.
All content undergoes rigorous verification to ensure accuracy, with updates on:
• Quarterly financial performance
• Strategic property transactions
• Tenant mix enhancements
• Capital allocation decisions
Bookmark this page for direct access to SITC's evolving retail real estate strategy, with new updates added as company releases become available.
Site Centers Corp. (NYSE: SITC) reported strong operating results for Q1 2023, showing a net income of $12.5 million, up from $11.1 million year-over-year. This was primarily driven by base rent growth and property acquisitions. Operating funds from operations (OFFO) rose to $62.7 million, or $0.30 per diluted share, compared to $61.6 million, or $0.29 per diluted share, in the previous year. The company acquired two shopping centers for $26.1 million and sold three for $40.2 million during the quarter. Same-store net operating income (SSNOI) grew by 4.2%. The leased rate increased to 95.9%, compared to 95.4% at the end of 2022. For FY 2023, SITC updated its net income guidance to $0.17 – $0.25 per share and OFFO guidance to $1.11 – $1.17 per share, reflecting optimistic performance despite industry challenges.
SITE Centers Corp. (NYSE: SITC) will announce its financial results for the quarter ending March 31, 2023, on April 25, 2023, before market opening. An earnings call is scheduled on the same day at 8:00 a.m. Eastern Time, accessible via phone or webcast. Interested parties can join by dialing specific numbers for the U.S., Canada, or international access. A replay of the call will be available post-event until May 25, 2023. SITE Centers is a REIT managing open-air shopping centers in affluent suburban areas, fully integrated in real estate operations. More information can be found on their website.
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