SITE Centers Announces Sale Of 6-Property Portfolio To An Affiliate Of Pine Tree For A Price Of $495M

6/13/24 4:07:44 PM ET

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SITE Centers Corp. (NYSE:SITC), an owner of open-air shopping centers in suburban, high household income communities, announced today that it has closed on the sale of a six-property portfolio to an affiliate of Pine Tree for a price of $495 million prior to closing pro-rations, allocations and credits. The sale excluded 93,607 square feet of gross leasable area at three properties retained by the Company and intended to be included in the expected spin-off of Curbline Properties.

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Recent Analyst Ratings for
$SITC

Date	Price Target	Rating	Analyst
10/7/2024		Overweight → Sector Weight	KeyBanc Capital Markets
10/2/2024	$19.00	Overweight → Equal Weight	Wells Fargo
1/5/2024		Outperform → Peer Perform	Wolfe Research
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1/10/2023	$14.00 → $13.00	Buy → Neutral	Mizuho
8/16/2022	$15.00 → $17.00	Neutral → Buy	Mizuho
3/3/2022	$17.00 → $16.50	Equal-Weight	Morgan Stanley

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SITE Centers Reports Third Quarter 2024 Results
SITE Centers Corp. (NYSE:SITC), an owner of open-air shopping centers primarily in suburban, high household income communities, announced today operating results for the quarter ended September 30, 2024. "SITE Centers completed the planned spin-off of Curbline Properties on October 1, unlocking a unique and scalable opportunity focused on convenience real estate and providing investors with two distinct business plans," commented David R. Lukes, President and Chief Executive Officer. "Following the disposition of 25 properties during the third quarter for an aggregate price of $1.4 billion, the Company has completed the sale of substantially all of the properties that had been in its activ
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SITE Centers Reports Third Quarter 2024 Results
SITE Centers Corp. (NYSE:SITC), an owner of open-air shopping centers primarily in suburban, high household income communities, announced today operating results for the quarter ended September 30, 2024. "SITE Centers completed the planned spin-off of Curbline Properties on October 1, unlocking a unique and scalable opportunity focused on convenience real estate and providing investors with two distinct business plans," commented David R. Lukes, President and Chief Executive Officer. "Following the disposition of 25 properties during the third quarter for an aggregate price of $1.4 billion, the Company has completed the sale of substantially all of the properties that had been in its activ
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SITE Centers' Third Quarter 2024 Earnings to be Released Wednesday, October 30, 2024
SITE Centers Corp. (NYSE:SITC) announced today that it intends to release its third quarter earnings prior to the market open on October 30, 2024. About SITE Centers Corp. SITE Centers is an owner and manager of open-air shopping centers located primarily in suburban, high household income communities. 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. Additional information about the Company is available at www.sitecenters.com. To be included in the Company's e-mail distributions for press releases and other investor news, please click here. View
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Curbline Properties Announces Tax Basis
On October 1, 2024, Curbline Properties Corp. (NYSE:CURB) ("CURB" or "Curbline") completed its separation from SITE Centers Corp. (NYSE:SITC) ("SITC") and became an independent publicly traded company. In the separation, SITC distributed two CURB common shares for every SITC common share held by SITC shareholders on the close of business on September 23, 2024 (the "Distribution"). The fair market value of CURB's common stock received by SITC shareholders in the Distribution for federal income tax purposes has been determined to be $22.29 per share based on the average closing price per share of CURB's common stock on its first three trading days beginning October 1, 2024. The impact of th
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SITE Centers Announces Sale Of 6-Property Portfolio To An Affiliate Of Pine Tree For A Price Of $495M

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SITE Centers downgraded by KeyBanc Capital Markets

SITE Centers downgraded by Wells Fargo with a new price target

SITE Centers downgraded by Wolfe Research

$SITC Large Ownership Changes

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Amendment: SEC Form SC 13D/A filed by SITE Centers Corp.

Amendment: SEC Form SC 13G/A filed by SITE Centers Corp.

Amendment: SEC Form SC 13G/A filed by SITE Centers Corp.

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Director Sweeney Dawn M. was granted 17,442 shares, increasing direct ownership by 113% to 32,851 units (SEC Form 4)

SEC Form 4 filed by SVP & Chief Accounting Officer Scott Jeffrey Alexander

EVP & General Counsel Kitlowski Aaron was granted 36,604 shares, increasing direct ownership by 44% to 119,828 units (SEC Form 4)

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Amendment: SITE Centers Corp. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

SEC Form 10-Q filed by SITE Centers Corp.

SITE Centers Corp. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

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