SITE Centers
Selling remaining open-air shopping centers while monetizing DTP and Curbline ties.
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Profile
Owns, leases, redevelops, and manages a shrinking portfolio of open-air shopping centers, with revenue from leases, joint-venture management, and Curbline shared services. After the Curbline spin-off, the business depends on asset-sale execution, DTP monetization, REIT status, shared-service obligations, and NYSE listing compliance.
Owns, leases, redevelops, and manages open-air shopping centers through a single operating segment. The remaining portfolio is concentrated in the United States and includes wholly owned properties, unconsolidated joint-venture interests, and office real estate in Beachwood, Ohio.
Revenue now comes from leases, tenant recoveries, management contracts for unconsolidated joint ventures, and shared-service fees tied to Curbline. The operating task is less expansion than orderly property sales, DTP joint-venture monetization, cash reserves, and service delivery through the post-spin structure.
Dependencies are structural: asset-sale timing and pricing, realization of DTP value, continued REIT qualification or a planned tax-status change, obligations to Curbline, and NYSE listing standards during the wind-up period.
Company facts
Key statistics
Year to date −53.1% · Average volume (30d) 869.7K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 4, 2026 | Piper Sandler | Reiterate | Neutral | $5 | $3.50 |
| Jul 21, 2026 | Piper Sandler | Reiterate | Neutral | $8 | $5 |
| Jan 5, 2026 | Piper Sandler | Reiterate | Overweight | $12 | $8 |
| Oct 22, 2025 | Piper Sandler | Reiterate | Overweight | $18 | $12 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | −$0.11 | −$0.03 | +72.7% | $8.2M | $6.8M | −16.5% | −4.23% |
| May 7, 2026Q1 FY26 | −$0.11 | −$0.04 | +63.6% | $10.2M | $9.2M | −9.4% | −0.89% |
| Feb 26, 2026Q4 FY25 | −$0.24 | $0.05 | +120.8% | $22.4M | $17.3M | −22.8% | −8.74% |
| Nov 5, 2025Q3 FY25 | −$0.26 | −$0.12 | +54.8% | $26.7M | $27.1M | +1.3% | −4.15% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $42.6M | $33.5M | $27.1M | $20.0M | $13.0M | $10.8M | |
| Gross profit | $30.8M | $22.3M | $17.7M | −$77.8M | −$2.0M | −$1.9M | |
| Operating income | $8.1M | −$16.0K | −$3.4M | −$6.3M | −$5.8M | −$7.4M | |
| Net income | $3.1M | $46.5M | −$6.2M | $134.4M | $938.0K | −$1.3M | |
| Diluted EPS | $0.06 | $0.88 | −$0.13 | $2.58 | $0.02 | −$0.02 | |
| Gross margin | 72.2% | 66.7% | 65.3% | -389.3% | -15.3% | -17.8% | |
| Operating margin | 19.1% | -0.0% | -12.4% | -31.5% | -45.0% | -68.2% |
Fiscal years (4-quarter sums)FY21 $532.9M · FY22 $552.4M · FY23 $546.3M · FY24 $249.4M · FY25 $123.2M
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $238.9M · Total debt $0 · Total assets $365.3M · Shareholders' equity $282.3M
Dividends
Last cut to $1.00 from $3.25 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 3, 2026 | Jul 17 | $1.00 | cut from $3.25 | |
| Dec 15, 2025 | Dec 15 | Dec 30 | $1.00 | special dividend |
| Oct 31, 2025 | Oct 31 | Nov 14 | $1.00 | special dividend |
| Sep 2, 2025 | Aug 15 | $3.25 | special dividend | |
| Aug 15, 2025 | Aug 15 | Aug 29 | $3.25 | raised from $0.1014 split-adjusted |
| Jun 30, 2025 | Jun 30 | Jul 15 | $1.50 | special dividend |
| Jun 18, 2024 | Jun 18 | Jul 9 | $0.13 | |
| Mar 13, 2024 | Mar 14 | Apr 5 | $0.13 | cut from $0.52 split-adjusted |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 52.47M · Float 52.28M · 99.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.04M | 9.60% | 13F | Aug 7, 2026 |
| Rush Island Management, LP | 4.50M | 8.58% | 13F | Aug 14, 2026 |
| AQR Capital Management LLC | 3.04M | 5.80% | 13F | Aug 14, 2026 |
| Gumshoe Capital Management LLC | 2.67M | 5.09% | 13F | Aug 14, 2026 |
| Irenic Capital Management LP | 2.61M | 4.97% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Kimco Realty
Open-air grocery-anchored scale and capital allocation overlap
- Regency Centers
Grocery-anchored shopping centers and development overlap
- Brixmor Property Group
National open-air centers with similar anchor and value-add focus
- Kite Realty Group
Sun Belt open-air centers and mixed-use retail overlap
- Phillips Edison
Pure grocery-anchored neighborhood-center overlap
- Federal Realty
Premium open-air and mixed-use retail benchmark
- InvenTrust Properties
Sun Belt grocery and power-center capital-allocation overlap
- Urban Edge Properties
Urban corridor shopping centers and capital recycling overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| SITE Centers | $3.10 | +3.33% | $156.9M | 1.2 | — | 2.2 | −79.5% |
| Kimco Realty | $23.78 | +0.02% | $16.03B | 26.7 | 27.8 | 7.3 | +4.1% |
| Regency Centers | $75.52 | +0.01% | $13.79B | 21.4 | 29.9 | 8.0 | +5.8% |
| Brixmor Property Group | $29.17 | −0.02% | $8.95B | 20.8 | 28.0 | 6.4 | +4.2% |
| Kite Realty Group | $26.00 | 0.00% | $5.21B | 16.1 | 65.4 | 6.4 | −9.4% |
| Phillips Edison | $40.00 | +2.43% | $5.02B | 34.0 | 49.5 | 6.7 | +3.8% |
| Federal Realty | $116.75 | −0.01% | $10.09B | 23.3 | 37.7 | 7.6 | +4.6% |
| InvenTrust Properties | $32.55 | +0.03% | $2.54B | 162.2 | — | 8.0 | +13.3% |
| Urban Edge Properties | $21.39 | 0.00% | $2.70B | 40.0 | 46.4 | 5.4 | +7.5% |
| Median | 25.0 | 37.7 | 7.0 | +4.4% |