SITE Centers Corp. (SITC)
(Delayed Data from NYSE)
$13.48 USD
-0.14 (-1.03%)
Updated Apr 26, 2024 04:00 PM ET
After-Market: $13.46 -0.02 (-0.15%) 7:58 PM ET
5-Strong Sell of 5 5
D Value F Growth F Momentum F VGM
Company Summary
Beachwood, OH-based SITE Centers Corp. is a retail real estate investment trust (REIT) in the United States. The company acquires, owns, develops, redevelops, leases and manages shopping centers, especially in high-growth areas of the country.
Rental revenues from the company’s shopping centers and land are its primary source of income. It also generates revenues from management contracts with its unconsolidated joint venture (JV) assets.
As of Dec 31, 2023, SITE Centers’ portfolio comprised 114 shopping centers, including 13 centers owned through unconsolidated JVs. As of the same date, the company’s GLA ...
Company Summary
Beachwood, OH-based SITE Centers Corp. is a retail real estate investment trust (REIT) in the United States. The company acquires, owns, develops, redevelops, leases and manages shopping centers, especially in high-growth areas of the country.
Rental revenues from the company’s shopping centers and land are its primary source of income. It also generates revenues from management contracts with its unconsolidated joint venture (JV) assets.
As of Dec 31, 2023, SITE Centers’ portfolio comprised 114 shopping centers, including 13 centers owned through unconsolidated JVs. As of the same date, the company’s GLA owned through all its properties (wholly-owned and JV) totaled 22.6 million square feet.
The company generated pro-rata basis cash new and cash renewal leasing spreads of 29.5% and 6.5%, respectively, in 2023. The average annualized base rent per occupied square foot was $20.35 on a pro-rata basis as of Dec 31, 2023.
In October 2023, SITE Centers announced a plan to spin off its unanchored convenience retail assets into a separate, publicly-traded REIT — Curbline Properties Corp. (“Curbline”). Following the spin-off, the company’s streamlined portfolio of retail properties is expected to open up scope to maximize value through leasing and tactical redevelopment efforts and drive NOI and cash flow growth in the upcoming period. The Curbline portfolio is expected to be in a net cash position at the time of the spin-off, which is anticipated to close on or around Oct 1, 2024, subject to certain customary closing conditions. Shareholders of SITE Centers will receive shares of CURB through a taxable pro rata stock distribution.
In 2023, SITE Centers disposed of 17 wholly-owned and five joint venture shopping centers worth $854.5 million and $112.2 million ($22.4 million at the company’s share), respectively. During the same period, it acquired 12 convenience shopping centers for $165.1 million.
Note: All EPS numbers presented in this report represents funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
General Information
SITE CENTERS CORP
3300 ENTERPRISE PARKWAY
BEACHWOOD, OH 44122
Phone: 216-755-5500
Fax: 216-755-1500
Web: http://www.sitecenters.com
Email: NA
Industry | REIT and Equity Trust - Retail |
Sector | Finance |
Fiscal Year End | December |
Last Reported Quarter | 3/31/2024 |
Earnings Date | 4/30/2024 |
EPS Information
Current Quarter EPS Consensus Estimate | 0.24 |
Current Year EPS Consensus Estimate | 0.90 |
Estimated Long-Term EPS Growth Rate | NA |
Earnings Date | 4/30/2024 |
Price and Volume Information
Zacks Rank | |
Yesterday's Close | 13.62 |
52 Week High | 14.71 |
52 Week Low | 10.88 |
Beta | 1.58 |
20 Day Moving Average | 1,737,885.25 |
Target Price Consensus | 14.69 |
4 Week | -7.03 |
12 Week | 0.96 |
YTD | -0.07 |
4 Week | -3.24 |
12 Week | -1.88 |
YTD | -5.59 |
Shares Outstanding (millions) | 209.36 |
Market Capitalization (millions) | 2,851.44 |
Short Ratio | NA |
Last Split Date | 5/21/2018 |
Dividend Yield | 3.82% |
Annual Dividend | $0.52 |
Payout Ratio | 0.44 |
Change in Payout Ratio | -0.02 |
Last Dividend Payout / Amount | 3/13/2024 / $0.13 |
Fundamental Ratios
P/E (F1) | 15.13 |
Trailing 12 Months | 11.54 |
PEG Ratio | NA |
vs. Previous Year | -10.34% |
vs. Previous Quarter | -21.21% |
vs. Previous Year | -9.73% |
vs. Previous Quarter | -13.93% |
Price/Book | 1.43 |
Price/Cash Flow | 5.91 |
Price / Sales | 5.29 |
3/31/24 | NA |
12/31/23 | 14.00 |
9/30/23 | 5.19 |
3/31/24 | NA |
12/31/23 | 6.56 |
9/30/23 | 2.41 |
3/31/24 | NA |
12/31/23 | 3.24 |
9/30/23 | 0.62 |
3/31/24 | NA |
12/31/23 | 3.24 |
9/30/23 | 0.62 |
3/31/24 | NA |
12/31/23 | 49.25 |
9/30/23 | 17.64 |
3/31/24 | NA |
12/31/23 | 49.25 |
9/30/23 | 17.64 |
3/31/24 | NA |
12/31/23 | 49.02 |
9/30/23 | 17.78 |
3/31/24 | NA |
12/31/23 | 9.56 |
9/30/23 | 8.94 |
3/31/24 | NA |
12/31/23 | NA |
9/30/23 | NA |
3/31/24 | NA |
12/31/23 | 0.81 |
9/30/23 | 0.93 |
3/31/24 | NA |
12/31/23 | 42.78 |
9/30/23 | 45.95 |