Core Insights - SITE Centers Corp. reported a net loss of $6.2 million for Q3 2025, a significant decline from a net income of $320.2 million in the same period last year, primarily due to impairments and lower rental income [5][18][19] - The company has sold seven properties year-to-date for a total of $380.9 million and has declared dividends of $5.75 per share [2][5] - The leased rate decreased to 87.6% as of September 30, 2025, down from 91.1% at the end of 2024 [5][18] Financial Performance - Operating funds from operations (OFFO) for Q3 2025 were $5.6 million, or $0.11 per diluted share, compared to $42.8 million, or $0.81 per diluted share in Q3 2024 [5][22] - Rental income for Q3 2025 was reported at $24.2 million, a decrease from $59.4 million in Q3 2024 [18][19] - The company recorded impairments totaling $106.6 million due to changes in hold period assumptions for five wholly-owned assets [5][22] Property Transactions - Notable property sales included Sandy Plains Village for $25 million, Winter Garden Village for $165 million, Deer Valley Towne Center for $33.7 million, and Edgewater Towne Center for $53.5 million [5][13] - The company has over $292 million in properties under contract for sale, with buyers' due diligence conditions expired [2][5] Recent Developments - A special cash distribution of $1.00 per common share was announced, payable on November 14, 2025 [13][27] - The company executed six new leases and 23 renewals for a total of 237,000 square feet during the quarter [5][18]

Financial Performance - Net income attributable to common shareholders was $3085 thousand, a significant increase compared to a net loss of $26341 thousand in the year-ago period[10] - Operating FFO was $8282 thousand, down from $59801 thousand in the previous year[10] - The company recorded $8400 thousand in other property revenues related to a condemnation proceeding in Florida[10] Portfolio Operations - The leased rate was 89.8% as of March 31, 2025, compared to 91.7% at March 31, 2024[10] - The commenced rate was 89.4% at the end of the quarter, slightly down from 89.8% year-over-year[10] - The company executed 5 new leases and 17 renewals, totaling 75000 square feet during the quarter[10] - Cash renewal leasing spreads were 3.4% for the first quarter of 2025[10] Asset Sales and Strategy - SITE Centers has two properties under contract for sale with an aggregate price of $95300 thousand[6] - Additional properties are in various stages of contract negotiations or marketing, exceeding $350000 thousand[6] Capital Structure - The market value per share was $12.84 as of March 31, 2025, compared to $15.29 at the end of 2024[30] - Common shares equity totaled $673394 thousand[30] - Net debt was $332013 thousand[30]