Business
SITE Centers Reports First Quarter 2025 Results
BEACHWOOD, Ohio, May 07, 2025--SITE Centers Reports First Quarter 2025 Results
About this update from Site Centers Corp.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/12c28405d81dd87faf09a5aab772119c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Re2NLjg_Y.lt5Zf1.v58.A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTk2MDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/12c28405d81dd87faf09a5aab772119c","width":480,"height":480}},"lazy":false},{"type":"text","content":"BEACHWOOD, Ohio, May 07, 2025--(BUSINESS WIRE)--SITE Centers Corp. (NYSE: SITC), an owner of open-air shopping centers located primarily in suburban, high household income communities, announced today operating results for the quarter ended March 31, 2025.","length":256,"tagName":"p"},{"type":"text","content":""SITE Centers continues to see strong demand from private and institutional investors seeking to acquire high-quality, open-air shopping centers consistent with the Company’s portfolio. The Company currently has two properties with an aggregate price of $95.3 million under contract for sale subject to standard closing conditions with an additional group of properties in various stages of contract negotiations or in the marketing process in excess of $350.0 million," commented David R. Lukes, President and Chief Executive Officer. "SITE Centers remains focused on maximizing the value of its assets through continued leasing, asset management and potential additional asset sales."","length":706,"tagName":"p"},{"type":"text","content":"Results for the First Quarter","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"First quarter net income attributable to common shareholders was $3.1 million, or $0.06 per diluted share, as compared to net loss of $26.3 million, or $0.51 per diluted share, in the year-ago period. The increase year-over-year was primarily the result of an increase in other property revenues and a decrease in impairments and interest expense offset by the result of the spin-off of Curbline Properties Corp. ("Curbline" or "Curbline Properties") (NYSE: CURB), lower Net Operating Income ("NOI") as a result of property dispositions, lower gain on sale from dispositions, and lower interest income.","length":632,"tagName":"p","attribs":{}}...