SITE Centers' Q1 OFFO Misses Estimate, Revenues Decline Y/Y

SITE Centers Corp. (SITC) reported first-quarter 2025 operating funds from operations (OFFO) per share of 16 cents, which missed the Zacks Consensus Estimate of 24 cents.Results reflect a fall in revenues, leased rate and commenced rate on a year-over-year basis. However, a rise in base rent per square foot supported the results to some extent.SITE Centers generated revenues of $40.3 million, which outpaced the Zacks Consensus Estimate of $33.5 million.On a year-over-year basis, the top line declined 56.4%, ...