$SITC
Site Centers Corp

2023 Q4 Form 10-Q Financial Statement

#000095017023057442 Filed on November 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $124.7M $144.8M
YoY Change -9.99% 4.26%
Cost Of Revenue $38.22M $41.53M
YoY Change -9.49% -2.83%
Gross Profit $86.45M $103.2M
YoY Change -10.21% 7.41%
Gross Profit Margin 69.34% 71.31%
Selling, General & Admin $14.93M $11.26M
YoY Change 22.79% 4.26%
% of Gross Profit 17.27% 10.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $46.93M $52.82M
YoY Change -7.96% 3.21%
% of Gross Profit 54.28% 51.17%
Operating Expenses $61.86M $105.6M
YoY Change -2.04% 0.85%
Operating Profit $24.59M -$2.379M
YoY Change -25.79% -72.37%
Interest Expense -$19.93M $21.15M
YoY Change -0.17% 5.01%
% of Operating Profit -81.04%
Other Income/Expense, Net $5.200M -$21.84M
YoY Change -1440.21% 5.8%
Pretax Income $197.7M $48.88M
YoY Change 601.71% -26.47%
Income Tax $1.234M $236.0K
% Of Pretax Income 0.62% 0.48%
Net Earnings $193.3M $48.64M
YoY Change 664.37% -26.52%
Net Earnings / Revenue 155.07% 33.6%
Basic Earnings Per Share $0.22
Diluted Earnings Per Share $0.92 $0.22
COMMON SHARES
Basic Shares Outstanding 209.3M 209.3M
Diluted Shares Outstanding 209.4M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $552.0M $26.56M
YoY Change 2625.23% 27.18%
Cash & Equivalents $552.0M $26.56M
Short-Term Investments
Other Short-Term Assets $5.104M $10.84M
YoY Change -24.06% 12.71%
Inventory
Prepaid Expenses
Receivables $65.62M $65.19M
Other Receivables $0.00 $0.00
Total Short-Term Assets $622.7M $102.6M
YoY Change 585.03% 14.06%
LONG-TERM ASSETS
Property, Plant & Equipment $3.278B $3.748B
YoY Change -13.7% -4.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $39.37M $40.83M
YoY Change -11.74% -11.24%
Other Assets $22.39M $42.58M
YoY Change 163.82% 280.45%
Total Long-Term Assets $3.439B $3.923B
YoY Change -13.04% -4.49%
TOTAL ASSETS
Total Short-Term Assets $622.7M $102.6M
Total Long-Term Assets $3.439B $3.923B
Total Assets $4.061B $4.025B
YoY Change 0.4% -4.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $158.6M $208.2M
YoY Change -10.49% -8.28%
Accrued Expenses $37.11M
YoY Change -1.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $259.5M $238.3M
YoY Change 5.77% -7.47%
LONG-TERM LIABILITIES
Long-Term Debt $1.626B $1.740B
YoY Change -4.73% -4.5%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.626B $1.740B
YoY Change -4.73% -4.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $259.5M $238.3M
Total Long-Term Liabilities $1.626B $1.740B
Total Liabilities $1.886B $1.978B
YoY Change -3.41% -4.86%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $21.44M $21.44M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.176B $2.047B
YoY Change
Total Liabilities & Shareholders Equity $4.061B $4.025B
YoY Change 0.4% -4.09%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $193.3M $48.64M
YoY Change 664.37% -26.52%
Depreciation, Depletion And Amortization $46.93M $52.82M
YoY Change -7.96% 3.21%
Cash From Operating Activities $46.48M $65.25M
YoY Change -10.22% -11.08%
INVESTING ACTIVITIES
Capital Expenditures $89.93M $56.82M
YoY Change 177.1% -191.03%
Acquisitions
YoY Change
Other Investing Activities $707.3M $112.3M
YoY Change 378.78% 63.83%
Cash From Investing Activities $617.4M $55.44M
YoY Change 435.56% 807.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -158.1M -86.03M
YoY Change -6.9% -11.0%
NET CHANGE
Cash From Operating Activities 46.48M 65.25M
Cash From Investing Activities 617.4M 55.44M
Cash From Financing Activities -158.1M -86.03M
Net Change In Cash 505.8M 34.67M
YoY Change -18240.96% -301.82%
FREE CASH FLOW
Cash From Operating Activities $46.48M $65.25M
Capital Expenditures $89.93M $56.82M
Free Cash Flow -$43.44M $8.436M
YoY Change -324.83% -93.79%

Facts In Submission

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CY2022Q3 sitc Other Comprehensive Income Loss Change In Cash Flow Hedges Reclassed To Earnings Net Of Tax
OtherComprehensiveIncomeLossChangeInCashFlowHedgesReclassedToEarningsNetOfTax
-9782000
sitc Other Comprehensive Income Loss Change In Cash Flow Hedges Reclassed To Earnings Net Of Tax
OtherComprehensiveIncomeLossChangeInCashFlowHedgesReclassedToEarningsNetOfTax
-3017000
sitc Other Comprehensive Income Loss Change In Cash Flow Hedges Reclassed To Earnings Net Of Tax
OtherComprehensiveIncomeLossChangeInCashFlowHedgesReclassedToEarningsNetOfTax
-9782000
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1930000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
9782000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3017000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
9782000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
50572000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
75995000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
72314000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
150359000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
18000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
18000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
55000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
50572000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
75977000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
72296000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
150304000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2092622000
sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
13000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
26611000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1151000
sitc Operating Partnership Units Redemption Value
OperatingPartnershipUnitsRedemptionValue
1735000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
18000
us-gaap Dividends Common Stock
DividendsCommonStock
54586000
us-gaap Dividends Preferred Stock
DividendsPreferredStock
5578000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
21742000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2024698000
CY2023Q3 sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
7000
CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1540000
CY2023Q3 us-gaap Dividends Common Stock
DividendsCommonStock
27311000
CY2023Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2789000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
50572000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2046717000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2042652000
sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
71000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
36857000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1841000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
37000
us-gaap Dividends Common Stock
DividendsCommonStock
55810000
us-gaap Dividends Preferred Stock
DividendsPreferredStock
5578000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
74364000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2090678000
CY2022Q3 sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
6000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
126000
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1429000
CY2022Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
20000000
CY2022Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
18000
CY2022Q3 us-gaap Dividends Common Stock
DividendsCommonStock
27740000
CY2022Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2789000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
75995000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2117435000
us-gaap Profit Loss
ProfitLoss
69297000
us-gaap Profit Loss
ProfitLoss
140577000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
165535000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
152564000
us-gaap Share Based Compensation
ShareBasedCompensation
5530000
us-gaap Share Based Compensation
ShareBasedCompensation
5430000
sitc Amortization And Write Off Of Debt Issuance Costs And Fair Market Value Of Debt Adjustments
AmortizationAndWriteOffOfDebtIssuanceCostsAndFairMarketValueOfDebtAdjustments
3217000
sitc Amortization And Write Off Of Debt Issuance Costs And Fair Market Value Of Debt Adjustments
AmortizationAndWriteOffOfDebtIssuanceCostsAndFairMarketValueOfDebtAdjustments
3929000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6495000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
27468000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
258000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
1111000
us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
3749000
us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
45554000
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
31230000
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
31292000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
2536000
sitc Assumption Of Building Due To Ground Lease Termination
AssumptionOfBuildingDueToGroundLeaseTermination
0
sitc Assumption Of Building Due To Ground Lease Termination
AssumptionOfBuildingDueToGroundLeaseTermination
2900000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1180000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-95000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7323000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8025000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
16457000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1567000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
122752000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
64909000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
192049000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
205486000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
102095000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
329570000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
80782000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
87902000
sitc Proceeds From Sale Of Joint Venture Interests
ProceedsFromSaleOfJointVentureInterests
3405000
sitc Proceeds From Sale Of Joint Venture Interests
ProceedsFromSaleOfJointVentureInterests
39250000
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
112292000
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
55866000
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
118000
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
143000
sitc Repayments Of Joint Venture Advances Net
RepaymentsOfJointVentureAdvancesNet
-318000
sitc Repayments Of Joint Venture Advances Net
RepaymentsOfJointVentureAdvancesNet
0
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
9468000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
39656000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-57512000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-282843000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
135000000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
80000000
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
100000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7598000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
87209000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
16224000
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
35577000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
36731000
sitc Proceeds From Repurchase Of Common Shares
ProceedsFromRepurchaseOfCommonShares
-5224000
sitc Proceeds From Repurchase Of Common Shares
ProceedsFromRepurchaseOfCommonShares
-5873000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
26611000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20000000
sitc Operating Partnership Unit Redemption Value
OperatingPartnershipUnitRedemptionValue
1735000
sitc Operating Partnership Unit Redemption Value
OperatingPartnershipUnitRedemptionValue
0
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
37000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
53000
us-gaap Payments Of Dividends
PaymentsOfDividends
90450000
us-gaap Payments Of Dividends
PaymentsOfDividends
89523000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-92490000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
58107000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
42047000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-19250000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21214000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
43252000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
63261000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
24002000
CY2022Q3 sitc Consolidation Of The Net Assets Of Unconsolidated Joint Ventures Excluding Mortgages
ConsolidationOfTheNetAssetsOfUnconsolidatedJointVenturesExcludingMortgages
42800000
sitc Net Assets Acquired From An Unconsolidated Joint Venture
NetAssetsAcquiredFromAnUnconsolidatedJointVenture
0
sitc Net Assets Acquired From An Unconsolidated Joint Venture
NetAssetsAcquiredFromAnUnconsolidatedJointVenture
8500000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:2.267%;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates in Preparation of Financial Statements</span></p><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. </span>
CY2023Q3 sitc Consolidation Of The Net Assets Of Unconsolidated Joint Ventures Excluding Mortgages
ConsolidationOfTheNetAssetsOfUnconsolidatedJointVenturesExcludingMortgages
0
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30100000
CY2022Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30500000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
12000000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
12600000
sitc Noncash Portion Of Redemption Of Op Units
NoncashPortionOfRedemptionOfOpUnits
4100000
sitc Noncash Portion Of Redemption Of Op Units
NoncashPortionOfRedemptionOfOpUnits
0
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
2900000
CY2023Q3 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
37442000
CY2022Q4 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
42644000
CY2023Q3 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
762000
CY2022Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
-707000
CY2023Q3 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
133000
CY2022Q4 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
301000
CY2023Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
40830000
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
44608000
CY2023Q3 sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
491000
CY2022Q3 sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
21276000
sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
4677000
sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
21898000
CY2023Q3 sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
27000
CY2022Q3 sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
4642000
sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
1818000
sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
5570000
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
518000
CY2022Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
25918000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6495000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
27468000
CY2023Q3 sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
100000
CY2022Q3 sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
200000
sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
400000
sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
800000
CY2023Q3 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
1600000
CY2022Q3 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
2500000
sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
5200000
sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
8600000
CY2023Q1 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
3700000
CY2023Q3 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
1600000
us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
3400000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
74462000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
87748000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17665000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18197000
CY2023Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
10839000
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
6721000
CY2023Q3 sitc Swap Receivable
SwapReceivable
11520000
CY2022Q4 sitc Swap Receivable
SwapReceivable
8138000
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2118000
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3491000
CY2023Q3 us-gaap Deposits Assets
DepositsAssets
2676000
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
3188000
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5875000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7526000
CY2023Q3 us-gaap Other Assets
OtherAssets
125155000
CY2022Q4 us-gaap Other Assets
OtherAssets
135009000
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
48833000
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
59825000
CY2023Q3 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
5500000
CY2022Q3 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
7100000
sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
17700000
sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
20700000
sitc Write Off Of Below Market Leases Termination
WriteOffOfBelowMarketLeasesTermination
8600000
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
11500000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
8100000
CY2023Q3 us-gaap Senior Notes
SeniorNotes
1368282000
CY2022Q4 us-gaap Senior Notes
SeniorNotes
1453923000
CY2023Q3 sitc Revolving Credit Facility And Term Loan
RevolvingCreditFacilityAndTermLoan
333772000
CY2022Q4 sitc Revolving Credit Facility And Term Loan
RevolvingCreditFacilityAndTermLoan
198521000
CY2023Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
38100000
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
54577000
CY2023Q3 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1740154000
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1707021000
us-gaap Profit Loss
ProfitLoss
140577000
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
55000
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2789000
CY2022Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2789000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
8367000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
8367000
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.39
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.39
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1500000
CY2023Q1 sitc Shares Repurchased Value At Cost
SharesRepurchasedValueAtCost
20000000
CY2023Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
13.43
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
500000
CY2022 sitc Shares Repurchased Value At Cost
SharesRepurchasedValueAtCost
6600000
CY2023Q2 sitc Repurchase During Period Op Unit
RepurchaseDuringPeriodOpUnit
140633
CY2023Q2 sitc Operating Partnership Units Redemption Value
OperatingPartnershipUnitsRedemptionValue
1700000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
6350000
sitc Amounts Reclassified From Accumulated Other Comprehensive Income To Interest Expense
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeToInterestExpense
3333000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
48642000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
66213000
us-gaap Profit Loss
ProfitLoss
69297000
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
100000
CY2022Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
117000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
295000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
368000
CY2023Q3 sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
45753000
CY2022Q3 sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
63289000
sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
60617000
sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
131787000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
209286000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
213846000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
209505000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
213278000
CY2023Q3 sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
113000
CY2022Q3 sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
341000
sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
241000
sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
441000
CY2023Q3 sitc Op Units
OPUnits
0
CY2022Q3 sitc Op Units
OPUnits
141000
sitc Op Units
OPUnits
0
sitc Op Units
OPUnits
141000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
209399000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
214328000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
209746000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
213860000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.3
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.3
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
0000950170-23-057442-index-headers.html Edgar Link pending
0000950170-23-057442-index.html Edgar Link pending
0000950170-23-057442.txt Edgar Link pending
0000950170-23-057442-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
sitc-20230930.htm Edgar Link pending
sitc-20230930.xsd Edgar Link pending
sitc-ex10_1.htm Edgar Link pending
sitc-ex10_2.htm Edgar Link pending
sitc-ex31_1.htm Edgar Link pending
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sitc-ex32_1.htm Edgar Link pending
sitc-ex32_2.htm Edgar Link pending
sitc-20230930_cal.xml Edgar Link unprocessable
sitc-20230930_def.xml Edgar Link unprocessable
sitc-20230930_pre.xml Edgar Link unprocessable
sitc-20230930_lab.xml Edgar Link unprocessable
sitc-20230930_htm.xml Edgar Link completed