SITE CENTERS CORP. (SITC) Q3 FFO and Revenues Miss Estimates

Financial Performance - SITE Centers Corp. reported quarterly funds from operations (FFO) of $0.81 per share, missing the Zacks Consensus Estimate of $0.87 per share, and down from $1.32 per share a year ago, representing an FFO surprise of -6.90% [1] - The company posted revenues of $89.43 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 12.17%, compared to year-ago revenues of $143.09 million [2] - Over the last four quarters, the company has surpassed consensus FFO estimates two times and topped consensus revenue estimates just once [2] Stock Performance - SITE Centers Corp. shares have lost about 68.6% since the beginning of the year, while the S&P 500 has gained 22.3% [3] - The current consensus FFO estimate for the coming quarter is $0.32 on $79.29 million in revenues, and for the current fiscal year, it is $3.36 on $414.29 million in revenues [7] Industry Outlook - The REIT and Equity Trust - Retail industry is currently in the top 16% of the Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that investors should monitor these revisions closely [5]