SITE Centers Corp's (SITC) Special Dividend Boosts Investor Income in 2025
Aerial view of a shopping plaza, showcasing the expansive nature of the real estate company.
In June, SITE Centers Corp. (NYSE:SITC) announced that it has completed the sale of The Promenade at Brentwood in Missouri for $71.6 million and Chapel Hills West in Colorado Springs for $23.7 million, before accounting for closing costs, prorations, and other adjustments. Part of the net proceeds was used to pay down $13.9 million in mortgage debt.
In addition, SITE Centers Corp. (NYSE:SITC)'s Board of Directors declared a special cash distribution of $1.50 per common share. The company stopped paying regular dividends in 2024.
SITE Centers Corp. (NYSE:SITC) owns and manages open-air shopping centers mainly situated in suburban areas with high household incomes. The company operates as a fully integrated real estate investment trust (REIT) that is both self-managed and self-administered.
While we acknowledge the potential of SITC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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