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Gotrade News - SITE Centers (SITC) reported a third-quarter 2026 net loss of $5.4 million, or $0.10 per diluted share, compared with a net loss of $6.2 million, or $0.13 per diluted share, in the year-ago period, according to the company's Form 8-K filed on Monday, November 2, 2026.
Regular-session close on November 2, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. Market cap: that close times the shares outstanding on the latest 10-Q or 10-K cover (SEC EDGAR).
SITE Centers Earnings Details
The company said the smaller loss was primarily the result of decreases in interest expense, impairment charges and depreciation and amortization expense, partially offset by a lower gain on disposition of real estate and lower net operating income from property dispositions.
Operating funds from operations (Operating FFO), a non-GAAP measure, was a loss of $3.1 million, or a loss of $0.06 per diluted share, compared with income of $5.6 million, or income of $0.11 per diluted share, in the year-ago period. The company attributed the decrease primarily to lower net operating income from property dispositions.
During the quarter, SITE Centers sold Meadowmont Market, Shoppes at Paradise Pointe and a land parcel for an aggregate gross sales price of $19.9 million. It also paid a $1.00 per share special dividend on Friday, July 31, 2026.
Why It Matters for SITC
Chief Executive Officer David R. Lukes said that year to date the company has sold seven properties, a land parcel and its interests in two joint ventures for an aggregate gross sales price of approximately $223.8 million, and that "SITE Centers remains focused on maximizing the value of its remaining two real estate investments and other financial assets."
After the quarter ended, the company sold The Maxwell in Chicago for a gross sales price of approximately $15.3 million and its partnership interests in the Dividend Trust Portfolio joint venture for approximately $32.4 million, and announced a special cash distribution of $3.00 per common share payable on Thursday, November 5, 2026. It has agreed to sell The Blocks in Portland, Oregon for approximately $18.2 million, with closing expected by the end of the fourth quarter of 2026, though it said no assurance can be given that the sale will occur. SITE Centers has also notified the New York Stock Exchange of its plan to voluntarily de-list its common shares prior to the commencement of trading on Friday, December 4, 2026, after which it expects them to trade in the over-the-counter market on the OTCID Basic Market.
What to watch next: SITE Centers pays its special cash distribution of $3.00 per common share on Thursday, November 5, 2026.
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M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
