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SITC

SITE Centers Corp.

https://www.sitecenters.com

Industry

REIT - Retail

SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.

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Several REITs experienced downgrades at the start of 2024 despite positive developments in late 2023. Stag Industrial, Rexford Industrial Realty, Medical Properties Trust, Physicians Realty Trust, Mid-America Apartment Communities, AvalonBay Communities, and SITE Centers Corp. all received downgrades from various analysts. These downgrades come after a period of significant share price increases for the REIT sector. Key events include lease renewals, acquisitions, dispositions, and dividend increases, but concerns seem to focus on the sustainability of recent price appreciations.

Portfolio Pulse from Ethan Roberts

January 09, 2024 | 7:02 pm

Wolfe Research analyst Andrew Rosivach has downgraded SITE Centers (NYSE:SITC) from Outperform to Peer Perform, indicating a change in the firm's outlook on the company's stock performance relative to its peers.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 2:18 pm

Five REITs have announced special dividends with upcoming ex-dividend dates, offering shareholders an opportunity for a larger annual yield. These REITs include Park Hotels & Resorts Inc. (PK), Host Hotels & Resorts Inc. (HST), Rayonier Inc. (RYN), SITE Centers Corp. (SITC), and Farmland Partners Inc. (FPI). Special dividends are often distributed when REITs dispose of assets with large gains. Shareholders are advised to purchase shares before the ex-dividend date to receive the special dividend, although the share price may decrease by a similar amount post-dividend.

Portfolio Pulse from Ethan Roberts

December 22, 2023 | 3:00 pm

Piper Sandler analyst Alexander Goldfarb has maintained an Overweight rating on SITE Centers (NYSE:SITC) but reduced the price target from $17 to $16.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 6:25 pm

SITE Centers Corp. has announced a cash special dividend of $0.16 per share. This declaration may indicate the company's strong cash position and its commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:18 pm

Mizuho analyst Haendel St. Juste has maintained a Neutral rating on SITE Centers (NYSE:SITC) but has lowered the price target from $15 to $11.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:17 pm

SITE Centers has announced the spin-off of its convenience portfolio into a separate publicly-traded REIT named Curbline Properties Corp. Curbline will be the first public REIT exclusively focused on the convenience sector. SITE Centers has sold $646M of assets since June 30, 2023, at a 6.5% cap rate and has $242M of additional assets under contract for sale. The company has obtained a $1.1B financing commitment, with proceeds expected to be used to repay all outstanding unsecured debt. SITE Centers has declared a Q4 dividend of $0.13 per share and expects to declare and pay a special cash dividend of at least $0.10 per share prior to January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 9:00 pm

SITE Centers Corp has updated its FY23 Operating FFO forecast from $1.13-$1.17 to $1.16-$1.18.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:56 pm

SITE Centers Corp reported Q3 earnings per share (EPS) of $0.22, down from $0.30 year over year (YoY). However, the company's revenue of $142.498M surpassed the estimate of $135.212M.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:55 pm

In the last quarter, SITE Centers (NYSE:SITC) received one somewhat bullish rating and three indifferent ratings from analysts. The company's average 12-month price target is $14.5, which has increased by 7.41% over the past month.

Portfolio Pulse from Benzinga Insights

September 20, 2023 | 12:00 pm

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