SITE Centers reported a strong fourth quarter driven by the sale of eight properties for $380 million, leading to a significant increase in net income compared to the prior year. The company successfully paid off its remaining consolidated mortgage loan balance and returned capital to shareholders through special distributions, while maintaining a focused strategy on maximizing value from its remaining retail assets.
SITE Centers Corp. announced its operating results for the first quarter ended March 31, 2025, reporting a net income attributable to common shareholders of $3.1 million, a significant improvement from a net loss in the prior year. The company highlighted strong demand for its open-air shopping centers and ongoing efforts to maximize asset value through leasing and potential sales.
SITE Centers reported a net loss attributable to common shareholders of $13.2 million, or $0.25 per diluted share, for the fourth quarter of 2024. The company redeemed all outstanding 6.375% Class A Cumulative Redeemable Preferred Shares and reported a leased rate of 91.1% and a commenced rate of 90.6% at December 31, 2024.
SITE Centers Corp. reported a net income attributable to common shareholders of $320.2 million, or $6.07 per diluted share, for the third quarter of 2024. The company completed the spin-off of Curbline Properties on October 1 and sold 25 shopping centers for $1.4 billion during the third quarter.
SITE Centers reported a net income attributable to common shareholders of $235.5 million, or $1.11 per diluted share, for the second quarter of 2024. Operating FFO was $55.9 million, or $0.27 per diluted share.
SITE Centers reported a net loss attributable to common shareholders of $26.3 million, or $0.13 per diluted share, compared to net income of $12.5 million, or $0.06 per diluted share, in the year-ago period. Operating FFO was $59.8 million, or $0.28 per diluted share, compared to $62.7 million, or $0.30 per diluted share, in the year-ago period. The company sold five wholly-owned shopping centers and acquired two convenience shopping centers.
SITE Centers Corp. reported net income attributable to common shareholders of $193.6 million, or $0.92 per diluted share, for the fourth quarter of 2023. Operating FFO was $54.0 million, or $0.26 per diluted share.
SITE Centers Corp. announced Q3 2023 results, reflecting steady demand for vacant space and capital recycling into Convenience assets. Net income attributable to common shareholders was $45.9 million, or $0.22 per diluted share. Operating FFO was $69.9 million, or $0.33 per diluted share.
SITE Centers Corp. announced operating results for the quarter ended June 30, 2023. Second quarter results were ahead of expectations and demand for space across unit sizes in the high-quality portfolio remains elevated.
SITE Centers reported a strong first quarter in 2023, marked by elevated leasing activity, an increase in the SNO pipeline, and progress in redevelopment, despite an uptick in tenant bankruptcies.
SITE Centers reported Q4 2022 operating results, with net income attributable to common shareholders at $25.4 million, or $0.12 per diluted share and Operating FFO at $62.5 million, or $0.29 per diluted share. The company acquired one convenience shopping center and sold four shopping centers and land parcels during the quarter. They also repurchased 2.2 million common shares.
SITE Centers reported excellent operational and leasing performance, continued capital recycling and investments, and further strengthening of the balance sheet.
SITE Centers Corp. announced operating results for the quarter ended June 30, 2022. The company had the highest quarterly new leasing volume since the first quarter of 2017 and significant capital recycling as they continue to invest in their Convenience thesis.
SITE Centers reported an excellent start to the year with record new leasing activity and the deployment of proceeds from preferred dividends. The portfolio is well positioned to produce sustainable NOI growth.