Business
SITE Centers Reports First Quarter 2026 Results
BEACHWOOD, Ohio, May 07, 2026--SITE Centers Reports First Quarter 2026 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/b0cff27e0bee88fa591c2059ca63e3cf"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/STSFQfPi0t6D5Adh1ychrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTk2MA--/https://media.zenfs.com/en/business-wire.com/b0cff27e0bee88fa591c2059ca63e3cf","width":480,"height":480},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/uJziZTjwincXXfZareYMpA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTY0MA--/https://media.zenfs.com/en/business-wire.com/b0cff27e0bee88fa591c2059ca63e3cf","width":480,"height":480}},"lazy":false},{"type":"text","content":"BEACHWOOD, Ohio, May 07, 2026--(BUSINESS WIRE)--SITE Centers Corp. (NYSE: SITC) announced today operating results for the quarter ended March 31, 2026.","length":151,"tagName":"p"},{"type":"text","content":""Year to date, the Company has sold three properties for an aggregate gross sales price of approximately $85.6 million and sold its interests in the Deer Park joint venture for $20.8 million," commented David R. Lukes, President and Chief Executive Officer. "SITE Centers remains focused on maximizing the value of its remaining assets through additional asset sales and resolution of its investment in the DTP joint venture."","length":446,"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 was $0.9 million, or $0.02 per diluted share, as compared to $3.1 million, or $0.06 per diluted share, in the year-ago period. The decrease year-over-year was primarily the result of impairment charges and lower Net Operating Income ("NOI") as a result of property dispositions offset by the gain on the sale of joint venture interests, increases on gain on disposition of real estate and interest income and decreases in interest expense, condemnation revenue and depreciation and amortization expense.","length":538,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"First quarter operating funds from operations ("Operating FFO" or "OFFO") was a loss of $1.9 million, or a loss of $0.04 per diluted share, compared to income of $8.3 million, or income...