Site Centers Q4 earnings match estimate as it prepares for Curbline spinoff [Seeking Alpha]
SITE Centers Corp. (SITC)
Last site centers corp. earnings: 4/30 06:30 am
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Source: Seeking Alpha
The company announced in October its plan to spin off its convenience properties into a separate publicly traded REIT to be named Curbline Properties. The REIT expects 2024 Site Centers net operating income of $260.7M-$269.8M , while it expects Curbline Properties to generate NOI of $73.9M-$77.9M. The guidance assumes 2024 Curbline same-store NOI growth of 3.5%-5.5%. The company had 2023 consolidated NOI of $373.7M. Site Centers ( SITC ) stock rose 2.0% in Tuesday early afternoon trading. Q4 operating FFO of $0.26, matching the average analyst estimate, fell from $0.33 in Q3 and $0.29 in Q4 2022. The Y/Y decline was primarily from the impact of property dispositions, partly offset by property NOI growth and the impact of property acquisitions. Q4 revenue of $123.2M, topping the $130.1M consensus, declined from $143.1M in the prior quarter and $135.1M a year ag. Q4 same-store NOI rose 0.3% Y/Y on a pro rata basis in Q4 compared with 2.9% in Q3. The company generated cash
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SITC
News
- SITE Centers (SITC) Stock Declines Despite Q1 OFFO Beat [Yahoo! Finance]Yahoo! Finance
- SITE Centers Corp. (NYSE:SITC) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- SITE Centers Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- SITE Centers Reports First Quarter 2024 ResultsBusiness Wire
- SITE Centers' First Quarter 2024 Earnings Conference Call to be Held on Tuesday, April 30, 2024, at 8:00 a.m. Eastern Time [Yahoo! Finance]Yahoo! Finance
SITC
Earnings
- 4/30/24 - Beat
SITC
Sec Filings
- 5/1/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/18/24 - Form 3/A
- SITC's page on the SEC website