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.
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WeWork Inc. (NYSE: WE) appointed Daniel Hurwitz, co-founder and CEO of Raider Hill Advisors, to its Board of Directors effective June 23, 2022. He succeeds Jeffrey Sine, who has served since October 2019. Hurwitz brings over 30 years of experience in retail real estate, including leadership roles at SITE Centers (NYSE: SITC) and interim CEO of Brixmor Property Group (NYSE: BRX). Hurwitz will also chair WeWork's Audit Committee. CEO Sandeep Mathrani expressed confidence in Hurwitz's ability to drive innovation and profitability at WeWork.
SITE Centers Corp. (NYSE:SITC) announced refinanced credit facilities, extending maturity dates and increasing loan amounts. The unsecured revolving credit facility was amended to $950 million, maturing on June 6, 2026, with potential extensions. The unsecured term loan was upsized to $200 million from $100 million, maturing June 6, 2027. The refinancing transitioned benchmarks from LIBOR to SOFR, including a sustainability-linked pricing component for reduced interest rates based on performance targets.
SITE Centers Corp. (NYSE: SITC) has declared a second quarter 2022 Preferred Class A stock dividend of $0.39844 per depositary share, effective for the period from April 15, 2022 to July 14, 2022. This dividend is payable on July 15, 2022, to shareholders of record as of June 29, 2022. The preferred shares represent one-twentieth of a share of SITE Centers’ 6.375% Class A Cumulative Redeemable Preferred Stock, signaling the company's commitment to returning value to its investors.
SITE Centers Corp. (NYSE: SITC) has declared a dividend of $0.13 per share for Q2 2022. This dividend will be payable on July 6, 2022 to shareholders on record as of June 9, 2022. As a self-administered and self-managed REIT, SITE Centers focuses on open-air shopping centers in affluent suburban areas. The company aims to enhance shareholder value through sustainable income distributions.
SITE Centers Corp. (NYSE: SITC) reported strong first-quarter results for 2022, with a net income of $11.1 million, or $0.05 per diluted share, compared to $10.9 million a year prior. Operating FFO rose to $61.6 million, or $0.29 per diluted share, up from $55.3 million. The company acquired three shopping centers for $140.1 million and sold shares worth $35.1 million. The leased rate increased to 93.2%, and SSNOI grew by 2.9%. The updated 2022 guidance estimates net income at $0.17-$0.24 per share and Operating FFO at $1.10-$1.15 per share.
SITE Centers Corp. (NYSE: SITC) will release its financial and operational results for Q1 2022 on April 26, 2022, before market open. The earnings conference call is scheduled for the same day at 8:00 a.m. ET. Interested parties can join the call via telephone or listen through a webcast on SITE Centers’ website. For those unable to attend, a replay will be available until May 26, 2022. SITE Centers operates open-air shopping centers in affluent suburban areas and is a self-administered REIT.
SITE Centers Corp. (NYSE:SITC) announced its participation in the 2022 Citi Global Property CEO Conference from March 6 to March 9, 2022 in Hollywood, Florida. CEO David R. Lukes will present on March 7, 2022, at 1:15 p.m. Eastern Time. Investors can access the presentation via an audio-webcast here. A written presentation will be available on the company's website on the same date.
SITE Centers Corp. (NYSE: SITC) announced a Preferred Class A stock dividend of
SITE Centers Corp. (NYSE: SITC) has declared a first quarter 2022 dividend of
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).
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