Site Centers reports Q4 EPS (25c), consensus (41c)

Reports Q4 revenue $32.9M vs. $97.7M last year. “SITE Centers (SITC) furthered the Company’s goal of recognizing value for stakeholders in the fourth quarter by continuing the simplification of its capital structure through the redemption of the remaining $175 million of outstanding preferred shares. The Company’s commenced rate increased through new tenant store openings in an environment of strong leasing demand, and we intend to capitalize where we view strong private market interest in purchasing high quality assets by marketing a subset of shopping centers for sale,” commented David R. Lukes, President and Chief Executive Officer. “Going forward, SITE Centers intends to maximize value through continued leasing, asset management and potential additional asset sales.”