SITE Centers posts Q2 net loss as property sales weigh on results - SITC News | RalliesSITE Centers posts Q2 net loss as property sales weigh on results
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SITC• Outlook
- SITE Centers expects to maintain a higher cash balance pending resolution of the DTP joint venture.
- The company expects closings of two property sales by the end of the third quarter of 2026.
- The outcome of the DTP joint venture remains uncertain, with a partner decision expected by Aug. 31, 2026.
Quarterly results
- U.S. shopping center REIT posted a Q2 net loss, reversing profit from the prior year.
- Q2 operating FFO turned negative, reflecting the impact of property sales and lower NOI.
- The company declared a $1.00 per share special dividend, paid July 31, 2026.
Result drivers and key details
- Property sales — Lower net operating income and negative operating FFO were primarily due to property dispositions, according to the company.
- Leased rate decline — Lower leased rate was mainly attributed to transactional activity and the remaining mix of properties, per the company.
- Higher legal expenses — Environmental and tenant litigation expenses increased to $1.0 million in Q2 from a year earlier.
$0.4 million
| Metric | Actual |
|---|
| Q2 loss per share | $0.03 |
| Q2 net loss | $1.30 million |
| Q2 FFO | -$4.60 million |
- The one available analyst rating on the shares is hold.
- The average consensus recommendation for the commercial REITs peer group is buy.
- Wall Street's median 12-month price target for SITE Centers Corp is $5.00, about 16.8% above its July 31 closing price of $4.28.
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