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SITE Centers (SITC)
NYSE:SITC
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Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.42Last Year’s EPS
0.72Same Quarter Last Year
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2018
|% Change Since: -9.99%
|Next Earnings Date:Jul 25, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with strong transaction activity and leasing performance, particularly in the Curbline portfolio. However, there were some concerns about occupancy challenges and volatility in operating metrics. Overall, the strategic focus on growth and strong leasing spreads were positive indicators.Company Guidance
During the SITE Centers' Q2 2024 earnings call, guidance provided included several key metrics and strategic updates. The company closed nearly $1 billion in transactions for the quarter, including over $50 million in debt purchases or retirements. The Curbline Properties portfolio, which is part of a planned spin-off expected in October 2024, reported a 24% trailing 12-month new leasing spread. The portfolio comprises 72 wholly-owned Convenience Properties, expected to generate about $84 million in NOI, and boasts a same-store NOI growth projection greater than 3% for the next three years. SITE Centers has closed $951 million in property sales year-to-date, with a total of $1.8 billion in dispositions at an average cap rate of 7.1%. The company has over $1 billion of real estate either under contract or in negotiation, with an anticipated overall cap rate in the mid-7s. The call emphasized the continued focus on acquisitions, with $65 million in Convenience Property purchases in Q2 and over $200 million awarded or under contract, highlighting an acquisition strategy centered on high-income areas and minimal CapEx requirements.Significant Transaction Activity
Closed nearly $1 billion of transactions in Q2 2024, including $951 million of wholly-owned property sales year-to-date, with an additional $1 billion of real estate under contract or negotiation.
Strong Leasing Performance
Reported 24% trailing 12-month new leasing spreads for the Curbline portfolio, with almost 50% straight-line new leasing rent spreads for the trailing 12-month period.
Convenience Portfolio Growth
Acquired five Convenience Properties in Q2 for $65 million and closed another $27 million of acquisitions in Q3 to date, with $200 million of additional Convenience assets awarded or under contract.
High Retention and Strong Credit
National tenant retention is mid-90%, and local tenant retention is around mid-80%, with an overall strong credit tenant base.
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SITC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SITC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $17.11 | $16.43 | -3.97% |
| Jul 30, 2024 | $12.17 | $12.49 | +2.63% |
| Apr 30, 2024 | $10.58 | $10.43 | -1.42% |
| Feb 13, 2024 | $10.64 | $10.80 | +1.50% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SITE Centers (SITC) report earnings?
SITE Centers (SITC) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is SITE Centers (SITC) earnings time?
SITE Centers (SITC) earnings time is at Feb 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SITC EPS forecast?
SITC EPS forecast for the fiscal quarter 2024 (Q4) is -0.42.
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