NYSE: SITC

SITE Centers Corp.

CIK 0000894315 · SIC 6798 · Real Estate Investment Trusts

Small Revenue $124M Assets $365M as of Sep 27, 2026

SITE Centers Corp., an Ohio corporation (the “Company” or “SITE Centers”), is a self-administered and self-managed Real Estate Investment Trust (“REIT”) engaged in the business of owning, leasing, redeveloping and managing shopping centers. Unless otherwise provided, references herein to the… About this business →

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10-Q Filed Aug 3, 2026 · Period ending Jun 30, 2026

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8-K Filed Aug 3, 2026 · Period ending Aug 3, 2026

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8-K Filed Jul 1, 2026 · Period ending Jun 30, 2026

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8-K Filed May 20, 2026 · Period ending May 14, 2026

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8-K Filed May 14, 2026 · Period ending May 13, 2026

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10-Q Filed May 7, 2026 · Period ending Mar 31, 2026

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8-K Filed May 7, 2026 · Period ending May 7, 2026

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10-K Filed Feb 26, 2026 · Period ending Dec 31, 2025

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10-Q Filed Nov 5, 2025 · Period ending Sep 30, 2025

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10-K Filed Feb 28, 2025 · Period ending Dec 31, 2024

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Latest financial statements

From 10-Q filed Aug 3, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Consolidated Statements of Operations (Unaudited)

(unaudited; in thousands, except per share amounts)

Description Three months ended June 30, 2026 Three months ended June 30, 2025
Revenues from operations:
Rental income 6,847 30,662
Fee and other income 3,846 2,808
10,693 33,470
Rental operation expenses:
Operating and maintenance 3,776 6,457
Real estate taxes 1,173 4,690
Impairment charges 1,000 —
General and administrative 9,229 9,418
Depreciation and amortization 3,894 12,921
19,072 33,486
Other income (expense):
Interest expense — (5,304)
Interest income 1,615 722
Debt extinguishment costs — (504)
Other income (expense), net (1,777) (1,383)
(162) (6,469)
Loss before earnings from equity method investments and other items (8,541) (6,485)
Equity in net loss of joint ventures (449) (68)
Gain on disposition of real estate, net 7,804 53,236
(Loss) income before tax expense (1,186) 46,683
Tax expense of taxable REIT subsidiary and state franchise and income taxes (118) (179)
Net (loss) income (1,304) 46,504
Per share data:
Basic: (0.03) 0.88
Diluted: (0.03) 0.88
Net (loss) income (1,304) 46,504
Amount reclassified to earnings cash flow hedges — (701)
Comprehensive (loss) income (1,304) 45,803

Consolidated Balance Sheets (Unaudited)

(unaudited; in thousands, except share amounts)

Description June 30, 2026 December 31, 2025
Assets
Land 20,346 47,182
Buildings 113,610 338,527
Fixtures and tenant improvements 76,561 170,247
210,517 555,956
Less: Accumulated depreciation (131,601) (332,774)
78,916 223,182
Construction in progress and land 548 2,554
Total real estate assets, net 79,464 225,736
Investments in and advances to joint ventures 26,396 27,676
Cash and cash equivalents 238,926 119,034
Restricted cash 2,415 3,781
Accounts receivable 7,662 13,015
Amounts receivable from Curbline 397 902
Other assets, net 10,034 28,593
Total assets 365,294 418,737
Liabilities and Equity
Amounts payable to Curbline 9,420 22,107
Accounts payable and other liabilities 20,924 61,865
Dividends payable 52,691 —
Total liabilities 83,035 83,972
Commitments and contingencies
SITE Centers Equity
Common shares, with par value, $0.10 stated value; 75,000,000 shares authorized; 52,480,384 and 52,467,187 shares issued at June 30, 2026 and December 31, 2025, respectively 5,248 5,247
Additional paid-in capital 3,981,441 3,981,084
Accumulated distributions in excess of net income (3,704,395) (3,651,338)
Less: Common shares in treasury at cost: 5,510 and 4,847 shares at June 30, 2026 and December 31, 2025, respectively (35) (228)
Total equity 282,259 334,765
365,294 418,737

Consolidated Statements of Cash Flows (Unaudited)

(unaudited; in thousands)

Description Six months ended June 30, 2026 Six months ended June 30, 2025
Cash flow from operating activities:
Net (loss) income (366) 49,589
Adjustments to reconcile net (loss) income to net cash flow (used for) provided by operating activities:
Depreciation and amortization 8,911 26,173
Stock-based compensation 586 701
Amortization and write-off of debt issuance costs, commitment fees and fair market value of debt adjustments — 1,891
Equity in net loss of joint ventures 601 29
Gain on sale of joint venture interests (19,989) —
Gain on disposition of real estate, net (11,811) (54,265)
Impairment charges 18,450 —
Operating cash distributions from joint ventures — 61
Loss on abandoned tenant lease costs — 911
Net change in accounts receivable 2,512 6,308
Net change in accounts payable and accrued expenses (13,829) (3,176)
Net change in other operating assets and liabilities 480 (5,289)
Total adjustments (14,089) (26,656)
Net cash flow (used for) provided by operating activities (14,455) 22,933
Cash flow from investing activities:
Real estate developed and improvements to operating real estate (4,002) (5,013)
Proceeds from disposition of real estate 116,315 91,420
Proceeds from disposition of joint venture 20,713 —
Distributions from unconsolidated joint venture — 439
Equity contributions to joint ventures (10) (8)
Net cash flow provided by investing activities 133,016 86,838
Cash flow from financing activities:
Repayment of mortgage debt — (14,724)
Payment of debt issuance costs — (6)
Payment of debt extinguishment costs — (92)
Repurchase of common shares in conjunction with equity award plans (35) (93)
Net cash flow used for financing activities (35) (14,915)
Net increase in cash, cash equivalents and restricted cash 118,526 94,856
Cash, cash equivalents and restricted cash, beginning of period 122,815 67,666
Cash, cash equivalents and restricted cash, end of period 241,341 162,522

Amounts as printed on the EDGAR/iXBRL face — (unaudited; in thousands, except per share amounts); (unaudited; in thousands, except share amounts); (unaudited; in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

About SITE Centers Corp.

Source: Item 1 (Business) from the 10-K filed February 26, 2026. Description as filed by the company with the SEC.

Item 1. BUSINESS

Overview

SITE Centers Corp., an Ohio corporation (the “Company” or “SITE Centers”), is a self-administered and self-managed Real Estate Investment Trust (“REIT”) engaged in the business of owning, leasing, redeveloping and managing shopping centers. Unless otherwise provided, references herein to the Company or SITE Centers include SITE Centers Corp. and its wholly-owned subsidiaries and consolidated and unconsolidated joint ventures.

On October 1, 2024, the Company completed the spin-off of 79 convenience retail properties consisting of approximately 2.7 million square feet of gross leasable area (“GLA”) into a separate publicly traded company named Curbline Properties Corp. (“Curbline” or “Curbline Properties”). In connection with the spin-off, on October 1, 2024, the Company, Curbline and Curbline Properties LP (the “Operating Partnership”) entered into a Separation and Distribution Agreement (the “Separation and Distribution Agreement”), pursuant to which, among other things, the Company transferred its portfolio of convenience retail properties, $800.0 million of unrestricted cash and certain other assets, liabilities and obligations to Curbline and effectuated a pro rata special distribution of all of the outstanding shares of Curbline common stock to common shareholders of the Company as of September 23, 2024, the record date. On the spin-off date, holders of the Company’s common shares received two shares of common stock of Curbline for every one common share of the Company held on the record date.

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The spin-off of the convenience properties represented a strategic shift in the Company’s business and, as such, the Curbline properties were considered as held for sale as of October 1, 2024 and are reflected as discontinued operations for all periods prior to the spin-off date. Except as otherwise noted, operating statistics cited in this Annual Report on Form 10-K for the years ended December 31, 2024 and 2023 have been adjusted for discontinued operations and properties sold during the year ended December 31, 2024.

The Company is self-administered and self-managed, and therefore, has not engaged, nor does it expect to retain, any REIT advisor. The Company manages all of its shopping centers which are collectively referred to herein as the “Portfolio Properties”. At December 31, 2025, the Company owned 19 shopping centers (including 11 shopping centers owned through two unconsolidated joint ventures) totaling 5.0 million square feet of GLA through all its properties (wholly-owned and joint venture). At December 31, 2025, the aggregate occupancy of the Company’s operating shopping center portfolio was 85.9% on a pro rata basis, and the average annualized base rent per occupied square foot was $22.61 on a pro rata basis. In addition, the Company owns two adjacent office buildings located in Beachwood, Ohio, totaling approximately 339,000 square feet, yielding approximately 227,000 square feet of GLA, of which the Company occupies approximately 60,000 square feet of GLA and approximately 167,000 square feet of GLA is leased or available to be leased to third parties.

In January, 2026, the Company sold its interest in the RVIP IIIB joint venture (Deer Park Town Center in Deer Park, Illinois).

The primary source of the Company’s net income is generated from the rental of the Company’s Portfolio Properties to tenants. In addition, the Company generates revenue from its management contracts with its unconsolidated joint ventures and the Shared Services Agreement (defined below) with Curbline.

Strategy

The Company intends to pursue the marketing and sale of its remaining wholly-owned properties and to monetize the value of its investment in the Dividend Trust Portfolio (“DTP”) joint venture. The timing of asset sales may be impacted by general economic conditions, local conditions in the markets in which our remaining properties are situated and other property-specific considerations. The Company’s ability and timing to monetize the value of its investment in the DTP joint venture may be impacted by the degree of cooperation of the joint venture partner and the limited rights afforded the Company under the joint venture agreement (including the requirement that the Company obtain the joint venture partner’s consent to the sale of individual joint venture properties and distribution of resulting proceeds). As of December 31, 2025, the Company maintained an elevated cash balance pending resolution of the DTP joint venture in order to maximize the Company’s alternatives for monetizing its joint venture investment, including through the possible exercise of the joint venture’s buy/sell provision.

The Company expects to use proceeds from additional asset sales to pay operating expenses, manage overall liquidity levels, make distributions to shareholders and establish a reserve fund to satisfy projected expenses and known and unknown claims that might arise during the anticipated wind-up of its business. The Company expects to incur significant expenses in connection with the eventual wind-up of its business, including but not limited to the fee applicable to any early termination of the Shared Services Agreement, employee severance costs, discretionary bonuses upon completion of the sales process, costs to terminate office leases,

3

licenses and other operating contracts, professional fees (including fees of accountants and law firms), costs to comply with ongoing reporting requirements of the Securities Exchange Act 1934 (the “Exchange Act”) (until such time as the Company qualifies for relief therefrom), insurance premiums and potential deductibles (including with respect to a “tail” insurance policy for directors and officers), vendor expenses, costs to resolve and streamline the Company’s subsidiaries and corporate structure and any claims arising under sale agreements for completed dispositions. For more information regarding risks relating to the Company’s disposition and wind-up strategy, see