NYSE$SITC

SITE Centers Corp · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

SITE Centers had a productive Q4 with results ahead of plan, executing on leasing and operational goals.

SITE Centers reported Q4 2022 operating results, with net income attributable to common shareholders at $25.4 million, or $0.12 per diluted share and Operating FFO at $62.5 million, or $0.29 per diluted share. The company acquired one convenience shopping center and sold four shopping centers and land parcels during the quarter. They also repurchased 2.2 million common shares.

  • Net income attributable to common shareholders was $25.4 million, or $0.12 per diluted share.
  • Operating FFO was $62.5 million, or $0.29 per diluted share.
  • Acquired Shops on Montview (Denver, CO) for $5.8 million.
  • Repurchased 2.2 million common shares at an aggregate cost of $28.8 million.

Headline financials

Total Revenue

$136M

Previous: $125M+9.5%
EPS (adj)

$1.16

Previous: $1.20-3.3%
Leased Rate

95.4%

Previous: 92.7%+2.9%
Net Income

$28.2M

Previous: $59M-52.2%
Operating Income

$94.2M

No prior period
Gross Profit

$94.2M

Previous: $88.3M+6.7%
Cash & Equivalents

$20.3M

Previous: $41.8M-51.6%
Total Assets

$4.05B

Previous: $3.97B+2.0%
Stock-Based Comp

$1.79M

Previous: $1.84M-2.6%

Revenue & EPS history

SITE Centers · Revenue · Quarterly

$136M

Q4 2022+9.5%vs Q4 2021
Beat estimate in 10 of 14 quarters(71%)
ActualEstimate

Revenue by segment

SITE Centers · $136M total across 2 segments · Q4 2022

  • Rental Income
    $136M
  • Other Property Revenues
    $537K

Forward guidance

The Company estimates net income attributable to common shareholders for 2023 to be from $0.16 to $0.24 per diluted share and Operating FFO to be from $1.10 to $1.16 per diluted share.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.3%

Avg return

Earnings day

-0.0%

Avg return

5 days after

-2.2%

Avg return

30 days after

49%

33 / 68 earnings

Positive

+8.6%

Q2 2017

Best reaction

-8.8%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.7%-1.1%-11.2%
Q4 2025-8.8%-6.7%-22.1%
Q3 2025-1.9%-15.5%-15.0%
Q1 2025+0.1%+3.1%-1.7%
Q4 2024-5.1%-7.6%-13.1%
Q3 2024-6.8%-5.6%-9.3%
Q2 2024-1.0%-1.3%-3.5%
Q1 2024+0.3%+2.0%+3.7%
Q4 2023+2.4%+2.1%+0.9%
Q3 2023+5.2%+15.0%+17.1%
Q2 2023-3.4%-4.8%-11.8%
Q1 2023-0.8%+3.3%-3.7%
Q4 2022-0.8%+1.3%-11.1%
Q3 2022+3.2%+6.4%+14.5%
Q2 2022+3.9%+0.4%-4.1%
Q1 2022-1.9%-5.5%-6.3%
Q4 2021+1.6%+2.0%+8.5%
Q3 2021+0.9%-3.2%+2.6%
Q2 2021+2.9%+2.7%+5.1%
Q1 2021+3.4%+3.0%-0.8%
Q4 2020+2.7%+6.3%+7.1%
Q3 2020-8.7%-9.1%+45.5%
Q2 2020+7.8%+4.3%+10.0%
Q1 2020-4.9%-7.3%-5.7%
Q4 2019+2.9%+3.5%-35.7%
Q3 2019+0.5%+0.5%-6.3%
Q2 2019+3.6%+3.1%+0.1%
Q1 2019+4.3%+4.9%+3.7%
Q4 2018-0.6%+0.8%-1.5%
Q3 2018+4.7%+3.0%-5.3%
Q2 2018+0.3%-2.3%+5.4%
Q1 2018+2.4%+11.4%+11.1%
Q4 2017+7.6%+5.3%-2.1%
Q3 2017+1.8%+2.4%-1.5%
Q2 2017+8.6%+2.5%+0.6%
Q1 2017-7.8%-11.5%-25.5%
Q4 2016-4.0%-6.2%-14.6%
Q3 2016-5.9%-5.1%-5.8%
Q2 2016-0.6%+1.9%-4.6%
Q1 2016-1.2%
Q4 2015-1.1%
Q3 2015+1.4%
Q2 2015-0.6%
Q1 2015-3.1%
Q4 2014+0.8%
Q3 2014-0.3%
Q2 2014-1.4%
Q1 2014+0.6%
Q4 2013+1.0%
Q3 2013-2.5%
Q2 2013+0.3%
Q1 2013+0.6%
Q4 2012-1.2%
Q3 2012+2.1%
Q2 2012-0.8%
Q1 2012+0.8%
Q4 2011-0.2%
Q3 2011-6.4%
Q2 2011-3.5%
Q1 2010+2.2%
Q1 2011-0.7%
Q4 2008+0.3%
Q4 2010+0.3%
Q3 2010-6.3%
Q3 2009-6.3%
Q2 2010-1.2%
Q2 2009-1.2%
Q4 2009-1.2%

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