Site Centers reports Q4 operating FFO 29c with items, consensus 28c

Reports Q4 revenue $136.43M, consensus $135.85M. Q4 OFFO includes $800,000 of rental income at SITE Centers’ share related to prior periods primarily from cash basis tenants. "SITE Centers had a very productive fourth quarter with results ahead of plan as we continued to execute on our leasing and operational goals," commented David R. Lukes, President and CEO. "In the last two years, we have executed over 2.0 million square feet of new leases increasing the Company’s leased rate over 380 bp to 95.4% highlighting the quality and strength of our focused portfolio of assets concentrated in the top sub-markets of the country. Additionally, over the course of 2022, we were able to opportunistically recycle capital into Convenience properties improving the Company’s long-term growth profile and expanding on the Company’s investment in this property type. Going forward, SITE remains well positioned with minimal near-term maturities, significant liquidity and a $19M Signed but Not Opened pipeline."