Annual Income Statements for Site Centers
This table shows Site Centers' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Site Centers
This table shows Site Centers' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
| Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
| Net Income / (Loss) Attributable to Common Shareholders |
|
63 |
25 |
12 |
2.56 |
46 |
194 |
-26 |
235 |
320 |
-13 |
| Consolidated Net Income / (Loss) |
|
66 |
28 |
15 |
5.35 |
49 |
196 |
-24 |
238 |
323 |
-5.82 |
| Net Income / (Loss) Continuing Operations |
|
66 |
-1.38 |
15 |
5.35 |
49 |
160 |
-24 |
238 |
323 |
-12 |
| Total Pre-Tax Income |
|
66 |
-1.43 |
16 |
5.72 |
49 |
161 |
-23 |
239 |
323 |
-12 |
| Total Revenue |
|
146 |
91 |
119 |
117 |
176 |
270 |
161 |
339 |
473 |
-668 |
| Net Interest Income / (Expense) |
|
-20 |
57 |
-20 |
-21 |
0.00 |
45 |
7.29 |
-9.88 |
14 |
20 |
| Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
4.35 |
7.29 |
8.55 |
14 |
1.78 |
| Other Interest Income |
|
- |
- |
0.00 |
0.00 |
0.00 |
4.35 |
7.29 |
8.55 |
14 |
1.78 |
| Total Interest Expense |
|
20 |
-57 |
20 |
21 |
0.00 |
-41 |
0.00 |
18 |
0.00 |
-18 |
| Total Non-Interest Income |
|
166 |
34 |
139 |
138 |
176 |
225 |
154 |
349 |
459 |
-689 |
| Other Service Charges |
|
3.72 |
2.33 |
2.82 |
2.20 |
2.26 |
1.27 |
2.50 |
2.19 |
1.75 |
1.75 |
| Net Realized & Unrealized Capital Gains on Investments |
|
27 |
-31 |
0.21 |
-0.02 |
31 |
194 |
32 |
233 |
368 |
-638 |
| Other Non-Interest Income |
|
135 |
63 |
136 |
136 |
142 |
30 |
120 |
113 |
89 |
-53 |
| Total Non-Interest Expense |
|
105 |
17 |
108 |
115 |
106 |
43 |
158 |
88 |
78 |
-647 |
| Other Operating Expenses |
|
31 |
-23 |
31 |
34 |
32 |
20 |
28 |
29 |
27 |
-630 |
| Depreciation Expense |
|
51 |
24 |
54 |
59 |
53 |
15 |
43 |
40 |
34 |
-16 |
| Other Special Charges |
|
22 |
15 |
23 |
22 |
21 |
7.93 |
21 |
19 |
16 |
-0.33 |
| Nonoperating Income / (Expense), net |
|
26 |
-76 |
4.42 |
3.98 |
-21 |
-66 |
-26 |
-11 |
-72 |
8.89 |
| Income Tax Expense |
|
0.26 |
-0.05 |
0.21 |
0.36 |
0.24 |
1.23 |
0.25 |
0.28 |
0.20 |
0.03 |
| Preferred Stock Dividends Declared |
|
2.79 |
2.79 |
2.79 |
2.79 |
2.79 |
2.79 |
2.79 |
2.79 |
2.79 |
7.43 |
| Basic Earnings per Share |
|
$0.30 |
$0.12 |
$0.06 |
$0.01 |
$0.87 |
$0.92 |
($0.13) |
$1.12 |
$6.09 |
($0.25) |
| Weighted Average Basic Shares Outstanding |
|
212.51M |
210.37M |
209.26M |
209.27M |
209.32M |
209.36M |
209.54M |
209.56M |
52.43M |
52.43M |
| Diluted Earnings per Share |
|
$0.30 |
$0.12 |
$0.06 |
$0.01 |
$0.87 |
$0.92 |
($0.13) |
$1.11 |
$6.07 |
($0.25) |
| Weighted Average Diluted Shares Outstanding |
|
212.51M |
210.37M |
209.26M |
209.27M |
209.32M |
209.36M |
209.54M |
209.56M |
52.43M |
52.43M |
| Basic & Diluted Earnings per Share |
|
- |
$0.12 |
- |
- |
- |
$0.92 |
- |
- |
- |
($0.25) |
| Weighted Average Basic & Diluted Shares Outstanding |
|
212.51M |
210.37M |
209.26M |
209.27M |
209.32M |
209.36M |
209.54M |
209.56M |
52.43M |
52.43M |
| Cash Dividends to Common per Share |
|
$0.13 |
$0.14 |
$0.13 |
$0.13 |
$0.13 |
$0.14 |
$0.13 |
$0.13 |
- |
$0.08 |
Annual Cash Flow Statements for Site Centers
This table details how cash moves in and out of Site Centers' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
| Metric |
2022 |
2023 |
2024 |
| Net Change in Cash & Equivalents |
-22 |
548 |
-501 |
| Net Cash From Operating Activities |
257 |
239 |
112 |
| Net Cash From Continuing Operating Activities |
257 |
239 |
112 |
| Net Income / (Loss) Continuing Operations |
169 |
266 |
532 |
| Consolidated Net Income / (Loss) |
169 |
266 |
532 |
| Depreciation Expense |
204 |
212 |
131 |
| Amortization Expense |
5.08 |
4.47 |
47 |
| Non-Cash Adjustments to Reconcile Net Income |
-112 |
-224 |
-562 |
| Changes in Operating Assets and Liabilities, net |
-7.79 |
-21 |
-36 |
| Net Cash From Investing Activities |
-168 |
560 |
1,844 |
| Net Cash From Continuing Investing Activities |
-168 |
560 |
1,844 |
| Purchase of Investment Securities |
-450 |
-273 |
-286 |
| Sale and/or Maturity of Investments |
283 |
836 |
2,130 |
| Other Investing Activities, net |
0.00 |
-3.38 |
0.00 |
| Net Cash From Financing Activities |
-112 |
-251 |
-2,457 |
| Net Cash From Continuing Financing Activities |
-112 |
-251 |
-2,457 |
| Issuance of Debt |
100 |
100 |
530 |
| Issuance of Common Equity |
31 |
-5.22 |
-4.77 |
| Repayment of Debt |
-79 |
-196 |
-1,888 |
| Repurchase of Preferred Equity |
0.00 |
0.00 |
-175 |
| Repurchase of Common Equity |
-42 |
-27 |
0.00 |
| Payment of Dividends |
-120 |
-121 |
-128 |
| Other Financing Activities, Net |
-1.45 |
-1.77 |
-792 |
| Effect of Exchange Rate Changes |
0.00 |
0.00 |
0.00 |
Quarterly Cash Flow Statements for Site Centers
This table details how cash moves in and out of Site Centers' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
| Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
| Net Change in Cash & Equivalents |
|
-17 |
-2.79 |
4.25 |
3.13 |
35 |
506 |
-12 |
629 |
-101 |
-1,016 |
| Net Cash From Operating Activities |
|
73 |
52 |
42 |
85 |
65 |
46 |
40 |
66 |
37 |
-31 |
| Net Cash From Continuing Operating Activities |
|
73 |
52 |
42 |
85 |
65 |
46 |
40 |
66 |
37 |
-31 |
| Net Income / (Loss) Continuing Operations |
|
66 |
28 |
15 |
5.35 |
49 |
196 |
-24 |
238 |
323 |
-5.82 |
| Consolidated Net Income / (Loss) |
|
66 |
28 |
15 |
5.35 |
49 |
196 |
-24 |
238 |
323 |
-5.82 |
| Depreciation Expense |
|
51 |
51 |
54 |
59 |
53 |
47 |
43 |
40 |
34 |
13 |
| Amortization Expense |
|
1.15 |
1.15 |
1.11 |
1.10 |
1.01 |
1.25 |
1.82 |
9.68 |
35 |
0.69 |
| Non-Cash Adjustments to Reconcile Net Income |
|
-52 |
-14 |
-3.55 |
-2.46 |
-30 |
-188 |
38 |
-234 |
-367 |
0.60 |
| Changes in Operating Assets and Liabilities, net |
|
7.12 |
-14 |
-25 |
22 |
-7.55 |
-10 |
-20 |
12 |
11 |
-40 |
| Net Cash From Investing Activities |
|
6.11 |
115 |
-51 |
-62 |
55 |
617 |
78 |
648 |
1,124 |
-6.06 |
| Net Cash From Continuing Investing Activities |
|
6.11 |
115 |
-51 |
-62 |
55 |
617 |
78 |
648 |
1,124 |
-6.06 |
| Purchase of Investment Securities |
|
-62 |
-32 |
-55 |
-72 |
-57 |
-90 |
-38 |
-85 |
-162 |
-0.98 |
| Sale and/or Maturity of Investments |
|
108 |
148 |
3.41 |
9.47 |
109 |
714 |
115 |
732 |
1,286 |
-4.36 |
| Other Investing Activities, net |
|
-39 |
- |
0.32 |
- |
3.41 |
-7.10 |
0.73 |
- |
- |
-0.73 |
| Net Cash From Financing Activities |
|
-97 |
-170 |
13 |
-19 |
-86 |
-158 |
-130 |
-86 |
-1,262 |
-979 |
| Net Cash From Continuing Financing Activities |
|
-97 |
-170 |
13 |
-19 |
-86 |
-158 |
-130 |
-86 |
-1,262 |
-979 |
| Issuance of Common Equity |
|
5.34 |
-5.94 |
-4.80 |
-0.04 |
-0.38 |
0.01 |
-2.59 |
-0.06 |
-2.12 |
0.01 |
| Repayment of Debt |
|
-0.46 |
-36 |
-0.31 |
-88 |
-16 |
-93 |
-64 |
-55 |
-1,768 |
-0.17 |
| Payment of Dividends |
|
-31 |
-30 |
-30 |
-30 |
-30 |
-30 |
-64 |
-30 |
-30 |
-4.06 |
| Other Financing Activities, Net |
|
-0.02 |
-1.40 |
-0.02 |
-1.75 |
- |
- |
0.00 |
- |
8.10 |
-800 |
Annual Balance Sheets for Site Centers
This table presents Site Centers' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
2022 |
2023 |
2024 |
| Total Assets |
4,045 |
4,061 |
934 |
| Cash and Due from Banks |
20 |
551 |
55 |
| Restricted Cash |
0.96 |
17 |
13 |
| Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
| Customer and Other Receivables |
- |
0.00 |
1.77 |
| Premises and Equipment, Net |
3,780 |
2,386 |
772 |
| Other Assets |
244 |
1,107 |
92 |
| Total Liabilities & Shareholders' Equity |
4,045 |
4,061 |
934 |
| Total Liabilities |
1,952 |
1,886 |
417 |
| Long-Term Debt |
1,707 |
1,601 |
301 |
| Other Long-Term Liabilities |
215 |
285 |
115 |
| Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
| Total Equity & Noncontrolling Interests |
2,093 |
2,176 |
517 |
| Total Preferred & Common Equity |
2,087 |
2,176 |
517 |
| Preferred Stock |
175 |
175 |
0.00 |
| Total Common Equity |
1,912 |
2,001 |
517 |
| Common Stock |
5,996 |
5,996 |
3,987 |
| Retained Earnings |
-4,046 |
-3,935 |
-3,473 |
| Treasury Stock |
-52 |
-72 |
-10 |
| Accumulated Other Comprehensive Income / (Loss) |
9.04 |
6.12 |
5.47 |
| Other Equity Adjustments |
5.03 |
5.17 |
8.04 |
Quarterly Balance Sheets for Site Centers
This table presents Site Centers' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
| Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
| Total Assets |
|
4,197 |
4,053 |
4,061 |
4,025 |
3,893 |
4,046 |
3,127 |
| Cash and Due from Banks |
|
21 |
25 |
28 |
27 |
551 |
1,181 |
1,063 |
| Restricted Cash |
|
3.12 |
0.43 |
0.55 |
37 |
5.43 |
4.29 |
21 |
| Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Premises and Equipment, Net |
|
3,920 |
3,782 |
3,801 |
3,731 |
3,113 |
2,649 |
1,857 |
| Other Assets |
|
253 |
245 |
231 |
231 |
223 |
211 |
186 |
| Total Liabilities & Shareholders' Equity |
|
4,197 |
4,053 |
4,061 |
4,025 |
3,893 |
4,046 |
3,127 |
| Total Liabilities |
|
2,080 |
2,008 |
2,036 |
1,978 |
1,769 |
1,711 |
475 |
| Long-Term Debt |
|
1,822 |
1,782 |
1,795 |
1,740 |
1,565 |
1,514 |
301 |
| Other Long-Term Liabilities |
|
227 |
196 |
211 |
208 |
173 |
168 |
174 |
| Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Total Equity & Noncontrolling Interests |
|
2,117 |
2,045 |
2,025 |
2,047 |
2,124 |
2,334 |
2,652 |
| Total Preferred & Common Equity |
|
2,112 |
2,039 |
2,025 |
2,047 |
2,124 |
2,334 |
2,652 |
| Preferred Stock |
|
175 |
175 |
175 |
175 |
175 |
175 |
175 |
| Total Common Equity |
|
1,937 |
1,864 |
1,850 |
1,872 |
1,949 |
2,159 |
2,477 |
| Common Stock |
|
5,995 |
5,988 |
5,993 |
5,994 |
5,993 |
5,995 |
5,933 |
| Retained Earnings |
|
-4,044 |
-4,061 |
-4,086 |
-4,067 |
-3,988 |
-3,780 |
-3,460 |
| Treasury Stock |
|
-29 |
-73 |
-73 |
-72 |
-69 |
-69 |
-7.10 |
| Accumulated Other Comprehensive Income / (Loss) |
|
9.78 |
5.84 |
10 |
12 |
8.72 |
8.57 |
6.11 |
| Other Equity Adjustments |
|
4.87 |
5.06 |
4.94 |
5.05 |
5.05 |
4.94 |
4.97 |
Annual Metrics And Ratios for Site Centers
This table displays calculated financial ratios and metrics derived from Site Centers' official financial filings.
| Metric |
2022 |
2023 |
2024 |
| Growth Metrics |
- |
- |
- |
| Revenue Growth |
3.60% |
42.36% |
-55.34% |
| EBITDA Growth |
40.52% |
49.14% |
52.69% |
| EBIT Growth |
135.35% |
114.04% |
101.90% |
| NOPAT Growth |
136.88% |
113.39% |
103.40% |
| Net Income Growth |
34.59% |
57.43% |
100.14% |
| EPS Growth |
34.59% |
57.43% |
101.44% |
| Operating Cash Flow Growth |
-8.94% |
-7.28% |
-53.03% |
| Free Cash Flow Firm Growth |
-70.49% |
412.51% |
981.23% |
| Invested Capital Growth |
2.14% |
-0.62% |
-78.33% |
| Revenue Q/Q Growth |
-4.91% |
25.07% |
-75.52% |
| EBITDA Q/Q Growth |
20.10% |
58.91% |
-22.02% |
| EBIT Q/Q Growth |
63.73% |
179.55% |
-23.53% |
| NOPAT Q/Q Growth |
63.88% |
179.25% |
-23.34% |
| Net Income Q/Q Growth |
-15.46% |
172.50% |
-27.55% |
| EPS Q/Q Growth |
-15.46% |
172.50% |
-29.15% |
| Operating Cash Flow Q/Q Growth |
-4.94% |
-2.17% |
-40.93% |
| Free Cash Flow Firm Q/Q Growth |
260.02% |
26.10% |
117.08% |
| Invested Capital Q/Q Growth |
-3.55% |
-0.29% |
-72.29% |
| Profitability Metrics |
- |
- |
- |
| EBITDA Margin |
73.82% |
77.34% |
264.40% |
| EBIT Margin |
30.29% |
45.54% |
205.86% |
| Profit (Net Income) Margin |
35.22% |
38.95% |
174.55% |
| Tax Burden Percent |
120.56% |
114.83% |
101.01% |
| Interest Burden Percent |
96.46% |
74.48% |
83.95% |
| Effective Tax Rate |
0.58% |
0.88% |
0.14% |
| Return on Invested Capital (ROIC) |
3.84% |
8.13% |
27.26% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
5.29% |
5.58% |
17.33% |
| Return on Net Nonoperating Assets (RNNOA) |
4.33% |
4.32% |
12.24% |
| Return on Equity (ROE) |
8.16% |
12.45% |
39.51% |
| Cash Return on Invested Capital (CROIC) |
1.72% |
8.75% |
156.03% |
| Operating Return on Assets (OROA) |
3.62% |
7.66% |
25.11% |
| Return on Assets (ROA) |
4.21% |
6.56% |
21.29% |
| Return on Common Equity (ROCE) |
7.45% |
11.41% |
36.94% |
| Return on Equity Simple (ROE_SIMPLE) |
8.09% |
12.21% |
102.92% |
| Net Operating Profit after Tax (NOPAT) |
144 |
308 |
626 |
| NOPAT Margin |
30.11% |
45.14% |
205.56% |
| Net Nonoperating Expense Percent (NNEP) |
-1.45% |
2.55% |
9.93% |
| SG&A Expenses to Revenue |
0.00% |
0.00% |
0.00% |
| Operating Expenses to Revenue |
69.71% |
54.46% |
-105.86% |
| Earnings before Interest and Taxes (EBIT) |
145 |
311 |
627 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
354 |
528 |
806 |
| Valuation Ratios |
- |
- |
- |
| Price to Book Value (P/BV) |
0.39 |
0.39 |
1.55 |
| Price to Tangible Book Value (P/TBV) |
0.39 |
0.39 |
1.55 |
| Price to Revenue (P/Rev) |
1.56 |
1.13 |
2.63 |
| Price to Earnings (P/E) |
4.74 |
3.04 |
1.55 |
| Dividend Yield |
14.80% |
18.40% |
300.85% |
| Earnings Yield |
21.10% |
32.91% |
64.37% |
| Enterprise Value to Invested Capital (EV/IC) |
0.69 |
0.52 |
1.27 |
| Enterprise Value to Revenue (EV/Rev) |
5.45 |
2.90 |
3.40 |
| Enterprise Value to EBITDA (EV/EBITDA) |
7.39 |
3.75 |
1.29 |
| Enterprise Value to EBIT (EV/EBIT) |
18.01 |
6.38 |
1.65 |
| Enterprise Value to NOPAT (EV/NOPAT) |
18.11 |
6.43 |
1.65 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
10.16 |
8.30 |
9.24 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
40.41 |
5.97 |
0.29 |
| Leverage & Solvency |
- |
- |
- |
| Debt to Equity |
0.82 |
0.74 |
0.58 |
| Long-Term Debt to Equity |
0.82 |
0.74 |
0.58 |
| Financial Leverage |
0.82 |
0.77 |
0.71 |
| Leverage Ratio |
1.94 |
1.90 |
1.86 |
| Compound Leverage Factor |
1.87 |
1.41 |
1.56 |
| Debt to Total Capital |
44.93% |
42.39% |
36.84% |
| Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
| Long-Term Debt to Total Capital |
44.93% |
42.39% |
36.84% |
| Preferred Equity to Total Capital |
4.61% |
4.63% |
0.00% |
| Noncontrolling Interests to Total Capital |
0.15% |
0.00% |
0.00% |
| Common Equity to Total Capital |
50.32% |
52.98% |
63.16% |
| Debt to EBITDA |
4.83 |
3.03 |
0.37 |
| Net Debt to EBITDA |
4.77 |
1.96 |
0.29 |
| Long-Term Debt to EBITDA |
4.83 |
3.03 |
0.37 |
| Debt to NOPAT |
11.83 |
5.20 |
0.48 |
| Net Debt to NOPAT |
11.68 |
3.35 |
0.37 |
| Long-Term Debt to NOPAT |
11.83 |
5.20 |
0.48 |
| Noncontrolling Interest Sharing Ratio |
8.74% |
8.34% |
6.50% |
| Liquidity Ratios |
- |
- |
- |
| Cash Flow Metrics |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
65 |
331 |
3,584 |
| Operating Cash Flow to CapEx |
0.00% |
0.00% |
0.00% |
| Free Cash Flow to Firm to Interest Expense |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow to Interest Expense |
0.00 |
0.00 |
0.00 |
| Operating Cash Flow Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
| Efficiency Ratios |
- |
- |
- |
| Asset Turnover |
0.12 |
0.17 |
0.12 |
| Fixed Asset Turnover |
0.13 |
0.22 |
0.19 |
| Capital & Investment Metrics |
- |
- |
- |
| Invested Capital |
3,800 |
3,776 |
818 |
| Invested Capital Turnover |
0.13 |
0.18 |
0.13 |
| Increase / (Decrease) in Invested Capital |
80 |
-24 |
-2,958 |
| Enterprise Value (EV) |
2,613 |
1,981 |
1,035 |
| Market Capitalization |
747 |
773 |
802 |
| Book Value per Share |
$9.00 |
$9.56 |
$9.86 |
| Tangible Book Value per Share |
$9.00 |
$9.56 |
$9.86 |
| Total Capital |
3,800 |
3,776 |
818 |
| Total Debt |
1,707 |
1,601 |
301 |
| Total Long-Term Debt |
1,707 |
1,601 |
301 |
| Net Debt |
1,686 |
1,032 |
234 |
| Capital Expenditures (CapEx) |
0.00 |
0.00 |
0.00 |
| Net Nonoperating Expense (NNE) |
-24 |
42 |
94 |
| Net Nonoperating Obligations (NNO) |
1,707 |
1,601 |
301 |
| Total Depreciation and Amortization (D&A) |
209 |
217 |
178 |
| Earnings Adjustments |
- |
- |
- |
| Adjusted Basic Earnings per Share |
$2.96 |
$4.84 |
$9.81 |
| Adjusted Weighted Average Basic Shares Outstanding |
52.59M |
52.34M |
52.43M |
| Adjusted Diluted Earnings per Share |
$2.92 |
$4.84 |
$9.77 |
| Adjusted Weighted Average Diluted Shares Outstanding |
52.59M |
52.34M |
52.43M |
| Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
52.59M |
52.34M |
52.43M |
| Normalized Net Operating Profit after Tax (NOPAT) |
228 |
382 |
748 |
| Normalized NOPAT Margin |
47.63% |
55.97% |
245.54% |
| Pre Tax Income Margin |
29.22% |
33.92% |
172.82% |
| Debt Service Ratios |
- |
- |
- |
| EBIT to Interest Expense |
0.00 |
0.00 |
0.00 |
| NOPAT to Interest Expense |
0.00 |
0.00 |
0.00 |
| EBIT Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
| NOPAT Less CapEx to Interest Expense |
0.00 |
0.00 |
0.00 |
| Payout Ratios |
- |
- |
- |
| Dividend Payout Ratio |
71.10% |
45.36% |
24.08% |
| Augmented Payout Ratio |
96.14% |
55.37% |
24.08% |
Quarterly Metrics And Ratios for Site Centers
This table displays calculated financial ratios and metrics derived from Site Centers' official financial filings.
| Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
| Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Revenue Growth |
|
20.14% |
-21.31% |
2.63% |
-7.24% |
20.79% |
195.67% |
35.41% |
189.31% |
168.99% |
-347.38% |
| EBITDA Growth |
|
27.98% |
87.71% |
5.62% |
-13.61% |
33.15% |
117.69% |
-27.57% |
389.17% |
274.67% |
-102.92% |
| EBIT Growth |
|
51.07% |
312.56% |
-0.82% |
-90.67% |
71.94% |
205.26% |
-73.00% |
14,390.87% |
462.96% |
-109.58% |
| NOPAT Growth |
|
51.57% |
191.20% |
-0.42% |
-91.21% |
71.78% |
332.75% |
-80.84% |
15,286.68% |
465.34% |
-106.43% |
| Net Income Growth |
|
135.16% |
-52.25% |
9.65% |
-91.14% |
-26.54% |
596.17% |
-253.91% |
4,350.68% |
563.94% |
-102.96% |
| EPS Growth |
|
150.00% |
-52.25% |
20.00% |
-96.30% |
-26.54% |
596.17% |
-316.67% |
11,000.00% |
597.70% |
-127.17% |
| Operating Cash Flow Growth |
|
1.06% |
-20.53% |
-15.70% |
3.10% |
-11.08% |
-10.22% |
-5.25% |
-21.43% |
-43.67% |
-167.02% |
| Free Cash Flow Firm Growth |
|
-84.85% |
-115.56% |
-101.27% |
212.56% |
353.39% |
1,010.03% |
7,516.82% |
59.28% |
452.43% |
1,079.83% |
| Invested Capital Growth |
|
3.37% |
2.14% |
0.34% |
-3.48% |
-3.87% |
-0.62% |
-3.61% |
0.73% |
-22.03% |
-78.33% |
| Revenue Q/Q Growth |
|
15.17% |
-37.21% |
-10.86% |
-1.48% |
49.99% |
53.69% |
-44.91% |
110.50% |
39.45% |
-241.35% |
| EBITDA Q/Q Growth |
|
30.80% |
36.01% |
-17.46% |
-7.09% |
101.59% |
122.38% |
-80.06% |
527.47% |
54.41% |
-101.73% |
| EBIT Q/Q Growth |
|
119.99% |
82.66% |
-60.53% |
-84.40% |
3,955.29% |
224.28% |
-98.44% |
8,275.19% |
57.55% |
-105.52% |
| NOPAT Q/Q Growth |
|
120.42% |
28.36% |
-61.13% |
-85.18% |
4,208.62% |
223.36% |
-98.90% |
11,799.49% |
58.31% |
-103.68% |
| Net Income Q/Q Growth |
|
9.61% |
-57.39% |
-45.77% |
-65.02% |
808.69% |
303.82% |
-111.99% |
1,111.57% |
35.56% |
-101.80% |
| EPS Q/Q Growth |
|
11.11% |
-57.39% |
-50.00% |
-83.33% |
808.69% |
303.82% |
-114.13% |
953.85% |
446.85% |
-104.12% |
| Operating Cash Flow Q/Q Growth |
|
-10.61% |
-29.44% |
-18.56% |
100.70% |
-22.90% |
-28.76% |
-14.05% |
66.43% |
-44.72% |
-184.76% |
| Free Cash Flow Firm Q/Q Growth |
|
29.01% |
68.78% |
96.33% |
7,464.54% |
59.81% |
12.14% |
-25.82% |
58.15% |
454.29% |
139.49% |
| Invested Capital Q/Q Growth |
|
-0.46% |
-3.55% |
0.73% |
-0.19% |
-0.87% |
-0.29% |
-2.96% |
4.30% |
-23.26% |
-72.29% |
| Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBITDA Margin |
|
64.00% |
138.64% |
55.66% |
52.49% |
70.55% |
102.08% |
29.77% |
88.75% |
98.27% |
0.00% |
| EBIT Margin |
|
28.05% |
81.60% |
9.32% |
1.48% |
39.93% |
84.25% |
1.86% |
73.97% |
83.57% |
0.00% |
| Profit (Net Income) Margin |
|
45.49% |
30.87% |
12.86% |
4.57% |
27.67% |
72.70% |
-14.62% |
70.26% |
68.29% |
0.00% |
| Tax Burden Percent |
|
99.61% |
-1,973.08% |
98.63% |
93.67% |
99.52% |
121.79% |
101.08% |
99.88% |
99.94% |
49.12% |
| Interest Burden Percent |
|
162.82% |
-1.92% |
139.85% |
330.16% |
69.63% |
70.85% |
-777.96% |
95.09% |
81.77% |
54.35% |
| Effective Tax Rate |
|
0.39% |
0.00% |
1.37% |
6.33% |
0.48% |
0.77% |
0.00% |
0.12% |
0.06% |
0.00% |
| Return on Invested Capital (ROIC) |
|
3.63% |
7.28% |
1.26% |
0.18% |
5.61% |
15.06% |
0.25% |
18.18% |
30.84% |
0.00% |
| ROIC Less NNEP Spread (ROIC-NNEP) |
|
5.05% |
5.86% |
1.51% |
0.39% |
4.42% |
13.27% |
-1.28% |
17.50% |
23.79% |
0.00% |
| Return on Net Nonoperating Assets (RNNOA) |
|
4.41% |
4.80% |
1.30% |
0.34% |
3.78% |
10.29% |
-1.03% |
13.28% |
10.33% |
0.00% |
| Return on Equity (ROE) |
|
8.04% |
12.08% |
2.56% |
0.53% |
9.39% |
25.34% |
-0.78% |
31.46% |
41.17% |
0.00% |
| Cash Return on Invested Capital (CROIC) |
|
-1.04% |
1.72% |
2.23% |
5.63% |
6.80% |
8.75% |
10.16% |
12.11% |
49.00% |
156.03% |
| Operating Return on Assets (OROA) |
|
3.43% |
9.76% |
1.21% |
0.18% |
5.30% |
14.18% |
0.34% |
17.29% |
29.08% |
0.00% |
| Return on Assets (ROA) |
|
5.56% |
3.69% |
1.66% |
0.57% |
3.67% |
12.24% |
-2.67% |
16.42% |
23.76% |
0.00% |
| Return on Common Equity (ROCE) |
|
7.35% |
11.02% |
2.34% |
0.48% |
8.59% |
23.23% |
-0.71% |
28.94% |
38.11% |
0.00% |
| Return on Equity Simple (ROE_SIMPLE) |
|
9.46% |
0.00% |
8.34% |
5.68% |
4.76% |
0.00% |
10.68% |
19.70% |
27.68% |
0.00% |
| Net Operating Profit after Tax (NOPAT) |
|
41 |
52 |
11 |
1.62 |
70 |
226 |
2.10 |
249 |
395 |
-15 |
| NOPAT Margin |
|
27.94% |
57.12% |
9.20% |
1.38% |
39.74% |
83.60% |
1.30% |
73.57% |
83.51% |
0.00% |
| Net Nonoperating Expense Percent (NNEP) |
|
-1.41% |
1.42% |
-0.25% |
-0.20% |
1.19% |
1.78% |
1.53% |
0.68% |
7.05% |
-0.91% |
| SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Operating Expenses to Revenue |
|
71.95% |
18.40% |
90.68% |
98.52% |
60.07% |
15.75% |
98.14% |
26.03% |
16.43% |
0.00% |
| Earnings before Interest and Taxes (EBIT) |
|
41 |
75 |
11 |
1.73 |
70 |
228 |
3.00 |
251 |
395 |
-22 |
| Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
93 |
127 |
66 |
62 |
124 |
276 |
48 |
301 |
465 |
-8.06 |
| Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Price to Book Value (P/BV) |
|
1.09 |
0.39 |
1.31 |
1.42 |
0.37 |
0.39 |
1.56 |
1.41 |
0.35 |
1.55 |
| Price to Tangible Book Value (P/TBV) |
|
1.09 |
0.39 |
1.31 |
1.42 |
0.37 |
0.39 |
1.56 |
1.41 |
0.35 |
1.55 |
| Price to Revenue (P/Rev) |
|
4.20 |
1.56 |
4.64 |
5.11 |
1.26 |
1.13 |
4.19 |
3.21 |
0.70 |
2.63 |
| Price to Earnings (P/E) |
|
11.23 |
4.74 |
15.31 |
25.34 |
7.93 |
3.04 |
14.09 |
6.77 |
1.21 |
1.55 |
| Dividend Yield |
|
5.16% |
14.80% |
4.50% |
4.13% |
15.89% |
18.40% |
4.68% |
4.69% |
0.00% |
300.85% |
| Earnings Yield |
|
8.90% |
21.10% |
6.53% |
3.95% |
12.61% |
32.91% |
7.10% |
14.76% |
82.63% |
64.37% |
| Enterprise Value to Invested Capital (EV/IC) |
|
1.04 |
0.69 |
1.14 |
1.20 |
0.67 |
0.52 |
1.14 |
0.92 |
0.09 |
1.27 |
| Enterprise Value to Revenue (EV/Rev) |
|
8.12 |
5.45 |
8.34 |
8.88 |
4.65 |
2.90 |
5.82 |
3.74 |
0.21 |
3.40 |
| Enterprise Value to EBITDA (EV/EBITDA) |
|
13.90 |
7.39 |
14.06 |
15.19 |
7.64 |
3.75 |
9.32 |
5.12 |
0.26 |
1.29 |
| Enterprise Value to EBIT (EV/EBIT) |
|
46.19 |
18.01 |
44.34 |
55.94 |
22.83 |
6.38 |
17.15 |
7.15 |
0.33 |
1.65 |
| Enterprise Value to NOPAT (EV/NOPAT) |
|
46.50 |
18.11 |
44.54 |
56.32 |
23.00 |
6.43 |
17.31 |
7.20 |
0.33 |
1.65 |
| Enterprise Value to Operating Cash Flow (EV/OCF) |
|
15.13 |
10.16 |
17.53 |
18.15 |
10.40 |
8.30 |
17.87 |
16.23 |
1.41 |
9.24 |
| Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
40.41 |
51.24 |
20.90 |
9.65 |
5.97 |
11.05 |
7.63 |
0.16 |
0.29 |
| Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Debt to Equity |
|
0.86 |
0.82 |
0.87 |
0.89 |
0.85 |
0.74 |
0.74 |
0.65 |
0.11 |
0.58 |
| Long-Term Debt to Equity |
|
0.86 |
0.82 |
0.87 |
0.89 |
0.85 |
0.74 |
0.74 |
0.65 |
0.11 |
0.58 |
| Financial Leverage |
|
0.87 |
0.82 |
0.86 |
0.89 |
0.86 |
0.77 |
0.80 |
0.76 |
0.43 |
0.71 |
| Leverage Ratio |
|
1.99 |
1.94 |
1.98 |
2.01 |
1.97 |
1.90 |
1.91 |
1.86 |
1.52 |
1.86 |
| Compound Leverage Factor |
|
3.25 |
-0.04 |
2.76 |
6.63 |
1.37 |
1.35 |
-14.83 |
1.77 |
1.24 |
1.01 |
| Debt to Total Capital |
|
46.25% |
44.93% |
46.57% |
47.00% |
45.95% |
42.39% |
42.43% |
39.34% |
10.19% |
36.84% |
| Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Long-Term Debt to Total Capital |
|
46.25% |
44.93% |
46.57% |
47.00% |
45.95% |
42.39% |
42.43% |
39.34% |
10.19% |
36.84% |
| Preferred Equity to Total Capital |
|
4.44% |
4.61% |
4.57% |
4.58% |
4.62% |
4.63% |
4.74% |
4.55% |
5.93% |
0.00% |
| Noncontrolling Interests to Total Capital |
|
0.15% |
0.15% |
0.15% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Common Equity to Total Capital |
|
49.16% |
50.32% |
48.71% |
48.42% |
49.43% |
52.98% |
52.83% |
56.11% |
83.88% |
63.16% |
| Debt to EBITDA |
|
6.19 |
4.83 |
5.73 |
5.96 |
5.24 |
3.03 |
3.46 |
2.19 |
0.29 |
0.37 |
| Net Debt to EBITDA |
|
6.10 |
4.77 |
5.65 |
5.87 |
5.05 |
1.96 |
2.23 |
0.47 |
-0.76 |
0.29 |
| Long-Term Debt to EBITDA |
|
6.19 |
4.83 |
5.73 |
5.96 |
5.24 |
3.03 |
3.46 |
2.19 |
0.29 |
0.37 |
| Debt to NOPAT |
|
20.69 |
11.83 |
18.16 |
22.11 |
15.78 |
5.20 |
6.42 |
3.08 |
0.37 |
0.48 |
| Net Debt to NOPAT |
|
20.42 |
11.68 |
17.90 |
21.76 |
15.21 |
3.35 |
4.13 |
0.67 |
-0.96 |
0.37 |
| Long-Term Debt to NOPAT |
|
20.69 |
11.83 |
18.16 |
22.11 |
15.78 |
5.20 |
6.42 |
3.08 |
0.37 |
0.48 |
| Noncontrolling Interest Sharing Ratio |
|
8.69% |
8.74% |
8.82% |
8.65% |
8.54% |
8.34% |
8.53% |
8.03% |
7.45% |
0.00% |
| Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Free Cash Flow to Firm (FCFF) |
|
-88 |
-27 |
-1.89 |
139 |
222 |
249 |
140 |
222 |
1,229 |
2,943 |
| Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| Free Cash Flow to Firm to Interest Expense |
|
-4.36 |
0.00 |
-0.09 |
6.65 |
0.00 |
0.00 |
0.00 |
12.03 |
0.00 |
0.00 |
| Operating Cash Flow to Interest Expense |
|
3.64 |
0.00 |
2.12 |
4.05 |
0.00 |
0.00 |
0.00 |
3.61 |
0.00 |
0.00 |
| Operating Cash Flow Less CapEx to Interest Expense |
|
3.64 |
0.00 |
2.12 |
4.05 |
0.00 |
0.00 |
0.00 |
3.61 |
0.00 |
0.00 |
| Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Asset Turnover |
|
0.12 |
0.12 |
0.13 |
0.12 |
0.13 |
0.17 |
0.18 |
0.23 |
0.35 |
0.12 |
| Fixed Asset Turnover |
|
0.14 |
0.13 |
0.14 |
0.13 |
0.14 |
0.22 |
0.21 |
0.29 |
0.45 |
0.19 |
| Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Invested Capital |
|
3,939 |
3,800 |
3,827 |
3,820 |
3,787 |
3,776 |
3,689 |
3,848 |
2,953 |
818 |
| Invested Capital Turnover |
|
0.13 |
0.13 |
0.14 |
0.13 |
0.14 |
0.18 |
0.19 |
0.25 |
0.37 |
0.13 |
| Increase / (Decrease) in Invested Capital |
|
128 |
80 |
13 |
-138 |
-153 |
-24 |
-138 |
28 |
-834 |
-2,958 |
| Enterprise Value (EV) |
|
4,095 |
2,613 |
4,371 |
4,574 |
2,537 |
1,981 |
4,223 |
3,541 |
267 |
1,035 |
| Market Capitalization |
|
2,116 |
747 |
2,433 |
2,632 |
685 |
773 |
3,039 |
3,038 |
875 |
802 |
| Book Value per Share |
|
$9.05 |
$9.00 |
$8.86 |
$8.84 |
$8.94 |
$9.56 |
$9.30 |
$10.30 |
$11.82 |
$9.86 |
| Tangible Book Value per Share |
|
$9.05 |
$9.00 |
$8.86 |
$8.84 |
$8.94 |
$9.56 |
$9.30 |
$10.30 |
$11.82 |
$9.86 |
| Total Capital |
|
3,939 |
3,800 |
3,827 |
3,820 |
3,787 |
3,776 |
3,689 |
3,848 |
2,953 |
818 |
| Total Debt |
|
1,822 |
1,707 |
1,782 |
1,795 |
1,740 |
1,601 |
1,565 |
1,514 |
301 |
301 |
| Total Long-Term Debt |
|
1,822 |
1,707 |
1,782 |
1,795 |
1,740 |
1,601 |
1,565 |
1,514 |
301 |
301 |
| Net Debt |
|
1,798 |
1,686 |
1,757 |
1,767 |
1,677 |
1,032 |
1,009 |
328 |
-783 |
234 |
| Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
| Net Nonoperating Expense (NNE) |
|
-26 |
24 |
-4.36 |
-3.73 |
21 |
29 |
26 |
11 |
72 |
-8.69 |
| Net Nonoperating Obligations (NNO) |
|
1,822 |
1,707 |
1,782 |
1,795 |
1,740 |
1,601 |
1,565 |
1,514 |
301 |
301 |
| Total Depreciation and Amortization (D&A) |
|
52 |
52 |
55 |
60 |
54 |
48 |
45 |
50 |
70 |
14 |
| Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Adjusted Basic Earnings per Share |
|
$1.20 |
$0.48 |
$0.24 |
$0.04 |
$0.88 |
$3.68 |
($0.52) |
$4.48 |
$6.09 |
($0.25) |
| Adjusted Weighted Average Basic Shares Outstanding |
|
53.13M |
52.59M |
52.31M |
52.32M |
52.33M |
52.34M |
52.39M |
52.39M |
52.43M |
52.43M |
| Adjusted Diluted Earnings per Share |
|
$1.20 |
$0.48 |
$0.24 |
$0.04 |
$0.88 |
$3.68 |
($0.52) |
$4.44 |
$6.07 |
($0.25) |
| Adjusted Weighted Average Diluted Shares Outstanding |
|
53.13M |
52.59M |
52.31M |
52.32M |
52.33M |
52.34M |
52.39M |
52.39M |
52.43M |
52.43M |
| Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.48 |
$0.00 |
$0.00 |
$0.00 |
$3.68 |
$0.00 |
$0.00 |
$0.00 |
($0.25) |
| Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
53.13M |
52.59M |
52.31M |
52.32M |
52.33M |
52.34M |
52.39M |
52.39M |
52.43M |
52.43M |
| Normalized Net Operating Profit after Tax (NOPAT) |
|
63 |
63 |
34 |
23 |
91 |
234 |
63 |
268 |
411 |
-15 |
| Normalized NOPAT Margin |
|
43.21% |
68.89% |
28.40% |
19.34% |
51.62% |
86.52% |
39.17% |
79.16% |
86.93% |
0.00% |
| Pre Tax Income Margin |
|
45.67% |
-1.56% |
13.04% |
4.88% |
27.80% |
59.69% |
-14.46% |
70.34% |
68.33% |
0.00% |
| Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| EBIT to Interest Expense |
|
2.03 |
0.00 |
0.56 |
0.08 |
0.00 |
0.00 |
0.00 |
13.61 |
0.00 |
0.00 |
| NOPAT to Interest Expense |
|
2.02 |
0.00 |
0.55 |
0.08 |
0.00 |
0.00 |
0.00 |
13.54 |
0.00 |
0.00 |
| EBIT Less CapEx to Interest Expense |
|
2.03 |
0.00 |
0.56 |
0.08 |
0.00 |
0.00 |
0.00 |
13.61 |
0.00 |
0.00 |
| NOPAT Less CapEx to Interest Expense |
|
2.02 |
0.00 |
0.55 |
0.08 |
0.00 |
0.00 |
0.00 |
13.54 |
0.00 |
0.00 |
| Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| Dividend Payout Ratio |
|
58.97% |
71.10% |
71.80% |
105.62% |
124.03% |
45.36% |
67.84% |
33.49% |
20.99% |
24.08% |
| Augmented Payout Ratio |
|
71.93% |
96.14% |
112.28% |
165.46% |
168.12% |
55.37% |
67.84% |
33.49% |
20.99% |
24.08% |
Key Financial Trends
SITE Centers Corp. (NYSE:SITC) Financial Summary and Trends (Q3 2022 to Q4 2024):
Analyzing the last four years of quarterly financial data for SITE Centers shows some significant fluctuations across income statements, cash flow, and balance sheets. Here's what stands out for investors:
- Strong net income growth was observed in 2023, with Q3 2023 reporting a consolidated net income of approximately $48.6 million and Q4 2023 reaching $196.4 million, reflecting solid performance improvement compared to previous years.
- The company's non-interest income surged significantly in 2023, especially Q3 2023 and Q4 2023, driven by high net realized and unrealized capital gains on investments, boosting total revenue.
- Depreciation and amortization expenses remained relatively stable across quarters, suggesting consistent asset utilization and capital expenditure management.
- Site Centers maintained solid operating cash flow in most quarters of 2023, including Q3 2023 with over $65 million in net cash from continuing operating activities, indicating good operational cash generation.
- Total common equity showed growth from about $1.87 billion in Q3 2023 to $2.48 billion in Q3 2024, reflecting strengthening shareholder equity position.
- Earnings per share fluctuated significantly, reaching highs of over $6.00 in Q3 2024, but dropping to negative territories in Q4 2024, linked primarily to large unrealized capital losses on investments.
- The share count remained steady at approximately 52.4 million shares in the latest quarters, indicating no major dilution events recently.
- Dividend payments per common share were relatively steady around $0.13 to $0.14 per quarter until a decrease to $0.08 in Q4 2024, which may affect yield perception.
- Total liabilities decreased significantly from over $2 billion in mid-2023 to about $475 million by Q3 2024, signaling debt repayments but requiring close monitoring.
- Cash and cash equivalents fluctuated, peaking above $1.06 billion in Q3 2024, reflective of significant cash flow movements through investing and financing activities.
- Q4 2024 showed a sharp downturn with a consolidated net loss of $5.8 million and net income attributable to common shareholders at negative $13.2 million, primarily due to a very large net unrealized loss on investments totaling approximately -$638 million.
- Net cash from continuing operating activities turned negative in Q4 2024 (-$31.2 million), signaling operational cash challenges in that period.
- Heavy outflows in financing activities were seen in Q4 2024 with nearly $979 million in net cash used, including significant debt repayments which drastically reduced liabilities but strained cash resources.
- Large fluctuations in unrealized capital gains and losses on investments are a risk factor, as evidenced by the swings from gains in prior quarters (e.g., $368 million in Q3 2024) to substantial losses in Q4 2024.
- The shift from positive net interest income in previous quarters to a total net interest expense in Q4 2024 (-$9.9 million) may indicate rising financing costs or lower interest income going forward.
Overall Outlook: SITE Centers experienced strong growth and profitability through 2023 and into early 2024, supported by real estate operations and investment gains. However, Q4 2024 marked a reverse, driven mainly by large investment losses and operating cash outflows. Investors should watch the company’s ability to stabilize investment performance and operational cash flows, as well as manage its capital structure effectively to maintain financial health.
10/24/25 08:11 PM ETAI Generated. May Contain Errors.