SITE Centers Corp. (NYSE: SITC) reported Q3 FFO of $0.29, versus $0.23 reported last year. Revenue for the quarter came in at $121.1 million, versus $95.94 million reported last year.

Guidance:

The Company has updated its 2021 full year guidance for net income attributable to common shareholders and Operating FFO per share to include the impact of the third quarter operating results. RVI disposition and refinancing fees, impairment charges, gains on sale of assets and debt extinguishment are excluded from guidance. The guidance update is as follows:

Reconciliation of Net Income Attributable to Common Shareholders to FFO and Operating FFO estimates:

		FY 2021E (prior) Per Share – Diluted		FY 2021E (revised) Per Share – Diluted
Net income attributable to Common Shareholders		$0.15 – $0.20		$0.28 – $0.30
Depreciation and amortization of real estate		0.83 – 0.86		0.83 – 0.86
Equity in net (income) of JVs		(0.05)		(0.06)
JVs' FFO		0.08 – 0.10		0.09 – 0.11
Gain on sale of joint venture interest, net (reported actual)		(0.07)		(0.10)
Impairment of real estate (reported actual)		0.03		0.03
FFO (NAREIT)		$1.00 – $1.04		$1.10 – $1.11
Disposition fees (reported actual)		—		(0.03)
Mark-to-market adjustment (PRSUs) and other (reported actual)		0.03		0.03
Write-off of Class K Preferred Share original issuance costs		0.03		0.03
Operating FFO		$1.06 – $1.10		$1.13 – $1.14

Other key assumptions for 2021 guidance include:

For earnings history and earnings-related data on SITE Centers Corp. (SITC) click here.