SITE Centers Corp. (SITC) 10-Year Financial Performance & Capital Metrics

SITC • • REIT / Real Estate

Real EstateRetail REITsOpen-Air Shopping CentersNational Open-Air Retail

AboutSITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.Show more

Revenue $277M -38.7%
FFO $663M +38.6%
FFO/Share 12.60 +38.1%
FFO Payout 19.32% -23.3%
FFO per Share 12.60 +38.1%
NOI Margin 65.52% -4.0%
FFO Margin 238.85% +126.1%
ROE 39.51% +217.3%
ROA 21.29% +224.8%
Debt/Assets 32.28% -19.4%
Net Debt/EBITDA 1.50 -59.5%
Book Value/Share 9.83 -76.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.0%
✓Strong 5Y profit CAGR of 39.5%
✓Sustainable FFO payout ratio of 19.3%
✓High NOI margin of 65.5%
✓Trading at only 0.6x book value

✗Weaknesses

✗FFO declining 90.3% TTM
✗Weak momentum: RS Rating 10 (bottom 10%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-11.62%

5Y-11.36%

3Y-19.55%

TTM-87.74%

Profit (Net Income) CAGR

10Y16.32%

5Y39.49%

3Y62.07%

TTM-94.88%

EPS CAGR

10Y17.19%

5Y34.74%

3Y68.56%

TTM-95.91%

ROCE

10Y Avg4.17%

5Y Avg2.48%

3Y Avg2.06%

Latest1.44%

Peer Comparison

National Open-Air Retail

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRGKite Realty Group Trust	5.05B	23.34	1261.62	2.29%	16.34%	4.26%	5.5%	0.95
AKRAcadia Realty Trust	2.75B	20.96	110.32	6.2%	4.44%	0.66%	5.11%	0.66
BRXBrixmor Property Group Inc.	7.98B	26.07	23.49	3.21%	24.7%	11.22%	7.83%	1.79
WSRWhitestone REIT	719.38M	14.10	19.58	5.13%	27.99%	9.98%	8.09%	1.42
SITCSITE Centers Corp.	328.94M	6.27	0.64	-38.7%	72.14%	12.2%	17.04%	0.58

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	995.1M	969.51M	879.45M	654.86M	507.1M	460.33M	532.86M	479.22M	452.62M	277.47M
Revenue Growth %	0.04%	-0.03%	-0.09%	-0.26%	-0.23%	-0.09%	0.16%	-0.1%	-0.06%	-0.39%
Property Operating Expenses	293.69M	277.08M	250.92M	207.99M	139.66M	138.4M	152.79M	154.61M	143.81M	95.66M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	475.43M	465.62M	446.85M	303.74M	223.47M	223.55M	240.82M	223.58M	231.48M	148.42M
G&A Expenses	73.38M	76.1M	89.85M	61.64M	58.38M	52.88M	55.05M	46.56M	50.87M	47.08M
EBITDA+	1.1B	1.08B	983.23M	338.23M	309.06M	269.05M	325.02M	304.58M	289.79M	164.28M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	402.05M	389.52M	346.2M	242.1M	165.09M	170.67M	185.77M	203.55M	212.46M	130.9M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	701.41M	692.42M	637.03M	96.12M	143.97M	98.38M	139.26M	101.03M	77.33M	33.38M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	241.73M	217.59M	188.65M	141.31M	84.72M	77.6M	76.38M	77.69M	82M	59.46M
Interest Coverage	2.90x	3.18x	3.38x	0.68x	1.70x	1.27x	1.82x	1.30x	0.94x	0.56x
Non-Operating Income	248.82M	-17.47M	-20.72M	-65.03M	-43.24M	-16.94M	-64.09M	-115.05M	-234.55M	-552.61M
Pretax Income+	-231.59M	-10.41M	-402.67M	-108.44M	102.48M	37.72M	126.97M	140.01M	231.39M	526.52M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	6.29M	1.78M	1.62M	862K	659K	1.13M	1.55M	816K	2.04M	761K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-72.17M	60.01M	-241.69M	-109.3M	100.7M	35.72M	124.94M	168.72M	265.7M	531.82M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1.62%	1.83%	-5.03%	0.55%	1.92%	-0.65%	2.5%	0.35%	0.57%	1%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-0.37%	0.36%	-0.77%	0.27%	1%	-0.22%	0.51%	0.2%	0.28%	0.39%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	-1.60	1.31	-5.26	-2.37	2.20	0.74	2.04	2.92	4.85	9.77
EPS Growth %	-1.8%	1.82%	-5.02%	0.55%	1.93%	-0.66%	1.76%	0.43%	0.66%	1.01%
EPS (Basic)	-1.60	1.31	-5.26	-2.37	2.20	0.74	2.04	2.96	4.85	9.81
Diluted Shares Outstanding	45.11M	45.7M	45.92M	46.13M	45.81M	48.44M	52.29M	53.47M	52.41M	52.58M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	9.1B	8.2B	7.17B	4.21B	4.09B	4.11B	3.97B	4.05B	4.06B	933.6M
Asset Growth %	-0.05%	-0.1%	-0.13%	-0.41%	-0.03%	0%	-0.03%	0.02%	0%	-0.77%
Real Estate & Other Assets+	8.11B	7.29B	6.32B	3.47B	3.43B	3.57B	3.67B	3.79B	3.27B	773.2M
PP&E (Net)	0	0	0	0	21.79M	20.6M	19.05M	18.2M	17.37M	15.82M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets+	599.3M	603.43M	559.45M	290.55M	97.46M	159.11M	116.15M	103.19M	667.22M	101.21M
Cash & Equivalents	22.42M	30.43M	92.61M	11.09M	16.08M	69.74M	41.81M	20.25M	551.97M	54.59M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	10.1M	91.11M	96.25M	2.56M	3.05M	4.67M	1.45M	960K	49.62M	13.07M
Intangible Assets	311.05M	241.6M	182.41M	77.42M	58.02M	90.42M	94.06M	87.75M	68.99M	12.94M
Total Liabilities	5.63B	4.95B	4.27B	2.13B	2.11B	2.16B	1.92B	1.95B	1.89B	416.86M
Total Debt+	5.14B	4.49B	3.85B	1.98B	1.85B	2.07B	1.68B	1.71B	1.63B	301.37M
Net Debt	5.12B	4.46B	3.76B	1.97B	1.84B	2B	1.64B	1.69B	1.07B	246.78M
Long-Term Debt	5.14B	4.49B	3.85B	1.88B	1.85B	1.93B	1.68B	1.71B	1.63B	301.37M
Short-Term Borrowings	1000K	0	0	1000K	1000K	1000K	0	0	684K	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	37.11M	0
Total Current Liabilities+	68.6M	75.25M	78.55M	45.26M	264.85M	229.95M	247.02M	245.37M	259.53M	115.48M
Accounts Payable	425.48M	382.29M	344.77M	203.66M	220.81M	215.11M	218.78M	214.99M	112.52M	115.48M
Deferred Revenue	-425.48M	0	0	0	0	0	0	0	0	0
Other Liabilities	155.3M	-450.3M	127.51M	50.33M	0	0	0	0	79.47M	0
Total Equity+	3.46B	3.25B	2.9B	2.07B	1.98B	1.94B	2.04B	2.09B	2.18B	516.74M
Equity Growth %	-0.09%	-0.06%	-0.11%	-0.28%	-0.04%	-0.02%	0.05%	0.02%	0.04%	-0.76%
Shareholders Equity	3.46B	3.24B	2.89B	2.07B	1.98B	1.94B	2.04B	2.09B	2.18B	516.74M
Minority Interest	8.28M	8.5M	6.51M	2.93M	3.06M	3.31M	5.79M	5.79M	0	0
Common Stock	36.53M	36.63M	36.85M	18.47M	19.38M	19.4M	21.13M	21.44M	21.44M	5.25M
Additional Paid-in Capital	5.47B	5.49B	5.53B	5.54B	5.7B	5.71B	5.93B	5.97B	5.97B	3.98B
Retained Earnings	-2.39B	-2.63B	-3.18B	-3.98B	-4.07B	-4.1B	-4.09B	-4.05B	-3.93B	-3.47B
Preferred Stock	350M	350M	525M	525M	325M	325M	175M	175M	175M	0
Return on Assets (ROA)	-0.01%	0.01%	-0.03%	-0.02%	0.02%	0.01%	0.03%	0.04%	0.07%	0.21%
Return on Equity (ROE)	-0.02%	0.02%	-0.08%	-0.04%	0.05%	0.02%	0.06%	0.08%	0.12%	0.4%
Debt / Assets	0.56%	0.55%	0.54%	0.47%	0.45%	0.5%	0.42%	0.42%	0.4%	0.32%
Debt / Equity	1.48x	1.38x	1.33x	0.96x	0.93x	1.06x	0.82x	0.82x	0.75x	0.58x
Net Debt / EBITDA	4.64x	4.13x	3.82x	5.83x	5.94x	7.43x	5.03x	5.54x	3.71x	1.50x
Book Value per Share	76.77	71.03	63.10	44.93	43.25	40.15	39.07	39.14	41.51	9.83

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	434.59M	462.92M	410.41M	264.81M	289.12M	190.17M	282.51M	257.26M	238.53M	114.84M
Operating CF Growth %	0.03%	0.07%	-0.11%	-0.35%	0.09%	-0.34%	0.49%	-0.09%	-0.07%	-0.52%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-70.31M	61.2M	-243.13M	116.11M	100.01M	36.59M	125.42M	168.79M	265.72M	523.47M
Depreciation & Amortization	402.05M	389.52M	346.2M	242.1M	165.09M	170.67M	185.77M	203.55M	212.46M	101.34M
Stock-Based Compensation	7.89M	7.76M	11.49M	7.47M	0	8.8M	13.53M	7.22M	7.63M	0
Other Non-Cash Items	4.64M	2.15M	-1.11M	-104.11M	22.83M	1.58M	-55.86M	-114.5M	-226.73M	-473.67M
Working Capital Changes	-26.79M	-28.83M	-20.67M	3.24M	1.19M	-23.84M	13.66M	-7.79M	-20.55M	-36.3M
Cash from Investing+	-54.49M	472.09M	478.61M	816.94M	-32.73M	102.48M	74.45M	-167.56M	559.9M	1.84B
Acquisitions (Net)	1.3M	-6.85M	-69.24M	-93.1M	0	139.37M	-4.6M	39.08M	3.26M	-226.08M
Purchase of Investments	0	0	0	0	-139.86M	0	0	-5.93M	0	-1M
Sale of Investments	0	0	0	0	1000K	0	0	0	0	1000K
Other Investing	-55.79M	478.94M	547.85M	910.04M	33.6M	-36.9M	79.05M	-200.71M	556.64M	0
Cash from Financing+	-378.77M	-926.99M	-833.52M	-1.16B	-254.28M	-237.36M	-388.13M	-111.74M	-250.62M	-2.46B
Dividends Paid	-265.28M	-293.9M	-305.82M	-281.33M	-180.7M	-98.35M	-99.54M	-120.02M	-120.52M	-128.06M
Common Dividends	-265.28M	-293.9M	-305.82M	-281.33M	0	-98.35M	-99.54M	-120.02M	-120.52M	0
Debt Issuance (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K
Share Repurchases	0	0	0	-36.34M	-214.1M	-7.5M	0	-42.26M	-28.35M	-179.79M
Other Financing	-4.13M	12.41M	13.55M	-49.63M	-990K	-641K	-13.26M	27.67M	-20.41M	-800M
Net Change in Cash+	1.48M	8.01M	55.5M	-81.07M	5.48M	55.28M	-31.16M	-22.04M	547.82M	-500.64M
Exchange Rate Effect	152K	1K	0	-4K	1000K	-4K	-1K	0	0	721K
Cash at Beginning	20.94M	22.42M	39.23M	94.72M	13.65M	19.13M	74.41M	43.25M	21.21M	568.31M
Cash at End	22.42M	30.43M	94.72M	13.65M	19.13M	74.41M	43.25M	21.21M	569.03M	67.67M
Free Cash Flow+	434.59M	462.92M	410.41M	264.81M	179.76M	190.17M	282.51M	257.26M	238.53M	56.05M
FCF Growth %	0.03%	0.07%	-0.11%	-0.35%	-0.32%	0.06%	0.49%	-0.09%	-0.07%	-0.77%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	7.31	9.84	2.28	2.88	5.8	4.26	5.94	6.96	9.12	12.6
FFO Payout Ratio	80.42%	65.38%	292.6%	211.84%	67.99%	47.65%	32.04%	32.24%	25.2%	19.32%
NOI Margin	70.49%	71.42%	71.47%	68.24%	72.46%	69.93%	71.33%	67.74%	68.23%	65.52%
Net Debt / EBITDA	4.64x	4.13x	3.82x	5.83x	5.94x	7.43x	5.03x	5.54x	3.71x	1.50x
Debt / Assets	56.5%	54.82%	53.69%	47.18%	45.25%	50.35%	42.28%	42.2%	40.04%	32.28%
Interest Coverage	2.90x	3.18x	3.38x	0.68x	1.70x	1.27x	1.82x	1.30x	0.94x	0.56x
Book Value / Share	76.77	71.03	63.1	44.93	43.25	40.15	39.07	39.14	41.51	9.83
Revenue Growth	4.33%	-2.57%	-9.29%	-25.54%	-22.56%	-9.22%	15.76%	-10.07%	-5.55%	-38.7%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Asset And Property Management Fees	-	-	-	12.9M	-	-	-	8.31M	5.69M	5.15M
Asset And Property Management Fees Growth	-	-	-	-	-	-	-	-	-31.49%	-9.52%
R V I Disposition Fees	-	-	-	-	-	-	9.02M	385K	150K	100K
R V I Disposition Fees Growth	-	-	-	-	-	-	-	-95.73%	-61.04%	-33.33%
Leasing Commissions	-	-	-	6.38M	6.3M	5.53M	3.18M	-	-	-
Leasing Commissions Growth	-	-	-	-	-1.25%	-12.25%	-42.40%	-	-	-
Development Fees	-	-	-	1.64M	2.02M	1.43M	694K	-	-	-
Development Fees Growth	-	-	-	-	23.26%	-29.27%	-51.40%	-	-	-
R V I Credit Facility Guaranty And Refinancing Fees	-	-	-	-	-	-	60K	-	-	-
R V I Credit Facility Guaranty And Refinancing Fees Growth	-	-	-	-	-	-	-	-	-	-
Disposition Fees	-	-	-	2.96M	3.45M	3.14M	-	-	-	-
Disposition Fees Growth	-	-	-	-	16.73%	-9.03%	-	-	-	-
Credit Facility Guaranty And Refinancing Fees	-	-	-	-	1.86M	60K	-	-	-	-
Credit Facility Guaranty And Refinancing Fees Growth	-	-	-	-	-	-96.77%	-	-	-	-
Credit Facility Guaranty Fee	-	-	-	60K	-	-	-	-	-	-
Credit Facility Guaranty Fee Growth	-	-	-	-	-	-	-	-	-	-
Shopping Center	1.03B	1.01B	921.53M	-	-	-	-	-	-	-
Shopping Center Growth	-	-2.16%	-8.37%	-	-	-	-	-	-	-
Loan Investments	137K	44K	57K	-	-	-	-	-	-	-
Loan Investments Growth	-	-67.88%	29.55%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
PUERTO RICO	-	-	11.8M	-	-	-	-	-	-	-
PUERTO RICO Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

SITE Centers Corp. (SITC) has a price-to-earnings (P/E) ratio of 0.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

SITE Centers Corp. (SITC) reported $52.1M in revenue for fiscal year 2024. This represents a 93% decrease from $771.0M in 2011.

SITE Centers Corp. (SITC) saw revenue decline by 38.7% over the past year.

Yes, SITE Centers Corp. (SITC) is profitable, generating $37.6M in net income for fiscal year 2024 (191.7% net margin).

Dividend & Returns

Yes, SITE Centers Corp. (SITC) pays a dividend with a yield of 38.84%. This makes it attractive for income-focused investors.

SITE Centers Corp. (SITC) has a return on equity (ROE) of 39.5%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

SITE Centers Corp. (SITC) generated Funds From Operations (FFO) of $87.6M in the trailing twelve months. FFO is the primary profitability metric for REITs.

SITE Centers Corp. (SITC) offers a 38.84% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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