SITE Centers Corp. reported its fourth‑quarter and full‑year 2025 financial results, showing a strong earnings beat and a continued focus on liquidating its portfolio. The company sold 14 properties for a total of $752.5 million during the year, a sale volume that helped offset the decline in operating FFO and contributed to a net income of $134.4 million, a sharp turnaround from the net loss recorded in 2024.
The company declared aggregate dividends of $6.75 per share for 2025, comprising three special cash distributions of $1.00 per share in October and December and a $3.25 per share distribution in August. The total dividend payout reflects the company’s strategy of returning capital to shareholders as it winds down operations after the October 1, 2024 spin‑off of Curbline Properties Corp. The spin‑off was completed on October 1, 2024, not simply “October 2024.”
Operating FFO for the full year fell to $25.2 million from $166.7 million in 2024, a decline driven by the sale of high‑income assets and the resulting reduction in rental income. Despite the drop in operating FFO, the company’s earnings per share of $2.55 beat the consensus estimate of –$0.24 by $2.79, a margin that underscores the impact of one‑time gains on dispositions and disciplined cost management during the wind‑down.
The company paid off its remaining consolidated mortgage loan balance of $64.0 million in December 2025, leaving no outstanding debt on its balance sheet. All remaining wholly‑owned retail real‑estate assets are being marketed for sale, a move that aligns with the company’s objective of maximizing shareholder value as it completes its asset disposition program.
Market reaction to the results was positive, with the stock trading up $0.13 during mid‑day trading to reach $6.77. The strong EPS beat, coupled with the company’s progress in asset sales and debt repayment, contributed to investor confidence in the wind‑down strategy.
Management emphasized the company’s progress: “2025 proved to be an active year successfully realizing value and returning capital to shareholders,” said President and CEO David R. Lukes. He added that since the spinoff of Curbline Properties, SITE Centers has sold over 66% of its assets as measured by net operating income for the quarter ended December 31, 2024 on a pro‑rata basis and continues to make progress returning remaining capital to shareholders.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.