Site Ctrs Corp Stock Price, News & Analysis

SITE Centers Corp. (NYSE: SITC) has declared a first quarter 2022 dividend of $0.13 per share, reflecting an 8% increase from the previous quarter's dividend. This dividend is set to be payable on April 7, 2022, to shareholders of record by the close of business on March 17, 2022.

SITE Centers is renowned for owning and managing open-air shopping centers in affluent suburban areas and operates as a fully integrated real estate investment trust (REIT).

SITE Centers Corp. (NYSE: SITC) announced strong operating results for Q4 and FY 2021, with Q4 net income of $56.2 million ($0.26/share) compared to a loss in the previous year. Full-year net income was $106.1 million ($0.51/share), driven by increased property revenue and acquisitions. The company reported a rise in Operating FFO to $63.8 million ($0.30/share) for Q4 and $1.17/share for the year. Significant acquisitions include an 80% interest in six assets for $107.2 million and a joint venture buyout for $15.1 million. Guidance for 2022 estimates net income between $0.19 to $0.26/share.

SITE Centers Corp. (NYSE: SITC) will release its financial and operational results for Q4 2021 on February 9, 2022, before market open. The company will also host a quarterly earnings conference call at 8:30 a.m. ET on the same day. Interested parties can join the call via telephone or listen through a webcast on the company's website. A replay will be available post-call. SITE Centers is a self-managed REIT specializing in open-air shopping centers situated in affluent suburban areas.

SITE Centers (NYSE: SITC) has announced the tax allocations of its 2021 distributions for common and preferred shares. Shareholders are advised to refer to Form 1099-DIV for accurate reporting on their federal income tax returns. Notably, the common share distributions included amounts from early January 2021 and will impact the 2021 tax assessments. Dividends paid per common share totaled $0.4000, while Preferred Class A and K Depositary Shares saw total dividends of $1.59376 and $0.36020, respectively.

SITE Centers Corp. (NYSE:SITC) provided a preliminary update on its fourth quarter 2021 operations at the Capital One Securities REIT Conference. The company achieved over 870,000 square feet leased, marking its highest quarterly new leasing activity since 2018 at 275,000 square feet. The leased rate increased to 92.7% from 92.3% in the previous quarter, despite a negative impact from transaction activity. The leasing pipeline includes 18 anchors in advanced negotiations. The management presentation will be available online on January 10, 2022.

SITE Centers Corp. (NYSE: SITC) has declared a fourth-quarter 2021 Preferred Class A stock dividend of $0.39844 per depositary share, equivalent to one-twentieth of a share of its 6.375% Class A Cumulative Redeemable Preferred Stock. This dividend covers the period from October 15, 2021 to January 14, 2022, and will be paid on January 17, 2022, to shareholders on record as of December 30, 2021.

SITE Centers Corp. (NYSE: SITC) has declared a fourth-quarter common stock dividend of $0.12 per share, scheduled for payment on January 5, 2022. Shareholders on record as of December 10, 2021 will receive this dividend. SITE Centers is focused on owning and managing open-air shopping centers in affluent suburban areas and operates as a fully integrated real estate investment trust (REIT). More details about the company can be found on their official website.

As of September 30, 2021, SITE Centers Corp. (SITC) reported significant financial improvements with a net income of $25.3 million ($0.12 per diluted share), up from $2.2 million ($0.01 per diluted share) year-over-year. Key factors contributing to this increase included lower uncollectible revenue due to COVID-19, reduced general and administrative expenses, and gains from asset sales. Operating FFO rose to $61.4 million ($0.29 per diluted share). The leased rate increased to 92.3%, with strong leasing spreads. The Company received a $190 million dividend from Retail Value Inc., enhancing its growth prospects.

SITE Centers Corp. (NYSE: SITC) will release its financial results for the quarter ending September 30, 2021, prior to the market opening on October 25, 2021. The company will host a conference call at 8:00 a.m. Eastern Time on the same day, which can be accessed at 888-317-6003 (U.S.) or via webcast on its website. A replay will also be available after the call until November 25, 2021.

As an owner of open-air shopping centers, SITE Centers operates in high-income suburbs and is fully integrated as a real estate investment trust (REIT).