AI Earnings Predictions for SITE Centers Corp. (SITC)

EX-99.1

2 sitc-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Exhibit 99.1

SITE Centers Corp.

Table of Contents

Section

Page

Earnings Release & Financial Statements

Press Release

1-6

Investments

Transactions

7

Shopping Center Summary

Property List

8

Reporting Policies and Other

Notable Accounting and Supplemental Policies

9

Non-GAAP Measures

10-11

SITE Centers Corp.

For additional information:

3300 Enterprise Parkway

Gerald Morgan, EVP and

Beachwood, OH 44122 216-755-5500

Chief Financial Officer

FOR IMMEDIATE RELEASE:

SITE Centers Reports Third Quarter 2026 Results

Beachwood, Ohio, November 2, 2026 - SITE Centers Corp. (NYSE: SITC) announced today operating results for the quarter ended September 30, 2026.

“Year to date the Company has sold seven properties, a land parcel and its interests in two joint ventures for an aggregate gross sales price of approximately $223.8 million,” commented David R. Lukes, President and Chief Executive Officer. “SITE Centers remains focused on maximizing the value of its remaining two real estate investments and other financial assets.”

Results for the Third Quarter

• Third quarter net loss was $5.4 million, or a loss of $0.10 per diluted share, as compared to a net loss of $6.2 million, or a loss of $0.13 per diluted share, in the year-ago period. The decrease in the year-over-year loss was primarily the result of decreases in interest expense, impairment charges and depreciation and amortization expense partially offset by the decrease in gain on disposition of real estate and lower Net Operating Income (“NOI”) as a result of property dispositions.

• Third quarter operating funds from operations (“Operating FFO” or “OFFO”) was a loss of $3.1 million, or a loss of $0.06 per diluted share, compared to income of $5.6 million, or income of $0.11 per diluted share, in the year-ago period. The decrease year-over-year was primarily the result of lower NOI as a result of property dispositions partially offset by a decrease in interest expense.

• Sold Meadowmont Market, Shoppes at Paradise Pointe and a land parcel for an aggregate gross sales price of $19.9 million. Net proceeds from these sales after adjustment for certain pro-rations, allocations and other credits were approximately $19.1 million.

• Paid a $1.00 per share special dividend on July 31, 2026.

Recent Activity / Other Updates • In October, the Company sold The Maxwell (Chicago, Illinois) for a gross sales price of approximately $15.3 million. Net proceeds from this sale, after adjustment for certain pro-rations, allocations and other credits, were approximately $13.9 million. This asset was classified as held for sale at September 30, 2026.

• On October 15, 2026, the Company sold its partnership interests in the Dividend Trust Portfolio joint venture for a gross sales price of approximately $32.4 million.

• On October 15, 2026, the Company announced a special cash distribution of $3.00 per common share payable on November 5, 2026.

• The Company provided notice to the New York Stock Exchange of its plan to voluntarily de-list its common shares prior to the commencement of trading on December 4, 2026. Following the de-listing, the Company expects that its common shares will trade in the over-the-counter market and be quoted on the OTCID Basic Market.

• The Company has agreed to sell The Blocks (Portland, Oregon) for a gross sales price of approximately $18.2 million. Net proceeds after credits and before customary pro-rations and closing costs are expected to be approximately $14.6 million, and closing is expected to occur by the end of the fourth quarter of 2026. No assurance can be given that the counterparty will perform its obligations under the sale agreement, that closing conditions will be satisfied or that the sale will occur.

• The Company is actively marketing its Beachwood, Ohio headquarter office buildings for sale.

• In September 2026, the Company entered into a lease agreement with Curbline Properties Corp. at the Company's Beachwood, Ohio headquarters pursuant to which Curbline will lease approximately 31,089 square feet for an initial five-year term beginning on October 1, 2027 at an annual base rent of $8.00 per square foot.

• Based upon preliminary analysis to date, the Company does not expect to have REIT taxable income in 2026 and estimates that 100% of its 2026 distributions will be return of capital. The Company will announce its final determination of the tax allocations of its 2026 distributions in January 2027.

1

About SITE Centers Corp.

SITE Centers is a self-administered and self-managed REIT 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.

Supplemental Information

Copies of the Company's quarterly financial supplement are avail