SITE Centers（DDR）株式概要SITEセンターズは、主に郊外の高世帯所得地域に立地するオープンエア・ショッピングセンターのオーナー兼マネージャーである。 詳細DDR ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績2/6財務の健全性6/6配当金0/6報酬株価収益率（ 1.6 x） German市場（ 17.3 x）を下回っています。リスク分析今後3年間の収益は年平均149.6%減少すると予測されている。 高いレベルの非現金収入 すべてのリスクチェックを見るDDR Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair Value€Current Price€4.502.9k% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-274m1b2016201920222025202620282031Revenue US$4.1mEarnings US$7.6mAdvancedSet Fair ValueView all narrativesSITE Centers Corp. 競合他社Hamborner REITSymbol: XTRA:HABAMarket cap: €424.6mHEDGE Brasil Shopping Fundo de Investimento ImobiliárioSymbol: BOVESPA:HGBS11Market cap: R$2.6bDexus Convenience Retail REITSymbol: ASX:DXCMarket cap: AU$362.3mUnited Hampshire US Real Estate Investment TrustSymbol: SGX:ODBUMarket cap: US$313.2m価格と性能株価の高値、安値、推移の概要SITE Centers過去の株価現在の株価US$4.5052週高値US$11.1052週安値US$4.42ベータ1.091ヶ月の変化-3.85%3ヶ月変化-18.92%1年変化-57.14%3年間の変化-89.58%5年間の変化-91.00%IPOからの変化-93.64%最新ニュースお知らせ • Apr 24SITE Centers Corp. to Report Q1, 2026 Results on May 07, 2026SITE Centers Corp. announced that they will report Q1, 2026 results After-Market on May 07, 2026お知らせ • Mar 16SITE Centers Corp., Annual General Meeting, May 13, 2026SITE Centers Corp., Annual General Meeting, May 13, 2026.お知らせ • Feb 12SITE Centers Corp. to Report Q4, 2025 Results on Feb 26, 2026SITE Centers Corp. announced that they will report Q4, 2025 results After-Market on Feb 26, 2026お知らせ • Dec 05SITE Centers Corp. Announces Special Common Stock Distribution, Payable on December 30, 2025SITE Centers Corp. announced a special cash distribution on its common shares of $1.00 per common share payable on December 30, 2025 to shareholders of record at the close of business on December 15, 2025.お知らせ • Nov 21An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million.An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million on November 20, 2025. A portion of net proceeds were used to repay $24.3 million of mortgage debt. An undisclosed buyer completed the acquisition of Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) on November 20, 2025.お知らせ • Oct 28SITE Centers Corp. to Report Q3, 2025 Results on Nov 05, 2025SITE Centers Corp. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025最新情報をもっと見るRecent updatesお知らせ • Apr 24SITE Centers Corp. to Report Q1, 2026 Results on May 07, 2026SITE Centers Corp. announced that they will report Q1, 2026 results After-Market on May 07, 2026お知らせ • Mar 16SITE Centers Corp., Annual General Meeting, May 13, 2026SITE Centers Corp., Annual General Meeting, May 13, 2026.お知らせ • Feb 12SITE Centers Corp. to Report Q4, 2025 Results on Feb 26, 2026SITE Centers Corp. announced that they will report Q4, 2025 results After-Market on Feb 26, 2026お知らせ • Dec 05SITE Centers Corp. Announces Special Common Stock Distribution, Payable on December 30, 2025SITE Centers Corp. announced a special cash distribution on its common shares of $1.00 per common share payable on December 30, 2025 to shareholders of record at the close of business on December 15, 2025.お知らせ • Nov 21An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million.An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million on November 20, 2025. A portion of net proceeds were used to repay $24.3 million of mortgage debt. An undisclosed buyer completed the acquisition of Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) on November 20, 2025.お知らせ • Oct 28SITE Centers Corp. to Report Q3, 2025 Results on Nov 05, 2025SITE Centers Corp. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025お知らせ • Oct 22SITE Centers Corp. Announces Special Common Stock Distribution, Payable on November 14, 2025SITE Centers Corp. announced a special cash distribution on its common shares of $1.00 per common share payable on November 14, 2025 to shareholders of record at the close of business on October 31, 2025.お知らせ • Sep 25Haverford Retail Partners Purchase Agreement to acquire Portfolio of Three Properties in East Hanover, NJ, Easton, PA, and Stow, OH from SITE Centers Corp. (NYSE:SITC) for approximately $130 million.Haverford Retail Partners Purchase Agreement to acquire Portfolio of Three Properties in East Hanover, NJ, Easton, PA and Stow, OH from SITE Centers Corp. (NYSE:SITC) for approximately $130 million on September 15, 2025. A cash consideration of $126 million will be paid by Haverford Retail Partners. The portfolio includes East Hanover Plaz, Southmont Plaza and Stow Community Center. Closing remains subject to customary conditions, including, but not limited to, delivery of estoppel letters from tenants, the accuracy of the Sellers representations in all material respects and the absence of certain casualty or condemnation events. The transaction is expected to occur in the fourth quarter of 2025. .お知らせ • Aug 02+ 1 more updateAn undisclosed buyer acquired Deer Valley Towne Center in Phoenix, AZ from SITE Centers Corp. (NYSE:SITC) for $33.7 million.An undisclosed buyer acquired Deer Valley Towne Center in Phoenix, AZ from SITE Centers Corp. (NYSE:SITC) for $33.7 million on August 1, 2025. In a related transaction, an undisclosed buyer acquired Winter Garden Village from SITE Centers Corp. for approximately $170 million on August 1, 2025. A portion of net proceeds were used to repay $22.3 million of mortgage debt. The Company’s Board of Directors also declared a special cash distribution on its common shares of $3.25 per common share payable on August 29, 2025 to shareholders of record at the close of business on August 15, 2025. Due bill obligations are customarily settled between the brokers representing the buyers and the sellers of shares. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of the Company’s common shares should consult their brokers before trading to be sure they understand the effect of NYSE’s due bill procedures. An undisclosed buyer completed the acquisition of Deer Valley Towne Center in Phoenix, AZ from SITE Centers Corp. (NYSE:SITC) on August 1, 2025.お知らせ • Jul 29SITE Centers Corp. to Report Q2, 2025 Results on Aug 05, 2025SITE Centers Corp. announced that they will report Q2, 2025 results After-Market on Aug 05, 2025お知らせ • Jul 22An undisclosed buyer acquired Sandy Plains Village in Roswell, GA from SITE Centers Corp. (NYSE:SITC) for $25 million.An undisclosed buyer acquired Sandy Plains Village in Roswell, GA from SITE Centers Corp. (NYSE:SITC) for $25 million on July 21, 2025. SITE Centers Corp. sold Sandy Plains Village (Roswell, GA) for $25 million, prior to closing costs, prorations and other closing adjustments. $18.1 million of net proceeds were used to repay mortgage debt. An undisclosed buyer completed the acquisition of Sandy Plains Village in Roswell, GA from SITE Centers Corp. (NYSE:SITC) on July 21, 2025.お知らせ • Jun 18Site Centers Corp. Declares Special Common Distribution, Payable on July 15, 2025SITE Centers Corp. declared a special cash distribution on its common shares of $1.50 per common share payable on July 15, 2025 to shareholders of record at the close of business on June 30, 2025.お知らせ • May 01SITE Centers Corp. to Report Q1, 2025 Results on May 07, 2025SITE Centers Corp. announced that they will report Q1, 2025 results After-Market on May 07, 2025お知らせ • Apr 05SITE Centers Corp., Annual General Meeting, May 14, 2025SITE Centers Corp., Annual General Meeting, May 14, 2025. Location: meetnow.global/mzr2p4u., United Statesお知らせ • Feb 04SITE Centers Corp. to Report Q4, 2024 Results on Feb 27, 2025SITE Centers Corp. announced that they will report Q4, 2024 results Pre-Market on Feb 27, 2025Recent Insider Transactions • Nov 17Insider recently sold €9.9m worth of stockOn the 13th of November, Alexander Otto sold around 653k shares on-market at roughly €15.19 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €61m more than they bought in the last 12 months.お知らせ • Nov 14SITE Centers Corp. (NYSE:SITC) acquired Crossroads Marketplace in Chino Hills, California for $34.2 million.SITE Centers Corp. (NYSE:SITC) acquired Crossroads Marketplace in Chino Hills, California for $34.2 million during the quarter ended, September 30, 2024. SITE Centers Corp. (NYSE:SITC) completed the acquisition of Crossroads Marketplace in Chino Hills, California during the quarter ended, September 30, 2024.Reported Earnings • Nov 01Third quarter 2024 earnings released: US$0.26 FFO loss per share (vs US$1.29 profit in 3Q 2023)Third quarter 2024 results: US$0.26 FFO loss per share (down from US$1.29 profit in 3Q 2023). Revenue: US$91.1m (down 37% from 3Q 2023). Funds from operations (FFO) loss: US$13.5m (down 120% from profit in 3Q 2023). Revenue is expected to fall by 12% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings.お知らせ • Oct 22SITE Centers Corp. to Report Q3, 2024 Results on Oct 30, 2024SITE Centers Corp. announced that they will report Q3, 2024 results Pre-Market on Oct 30, 2024Board Change • Oct 15Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Chairman Dawn Sweeney was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Oct 02SITE Centers Corp. completed the Spin-Off of Curbline Properties Corp. (NYSE:CURB).The board of SITE Centers Corp. (NYSE:SITC) agreed to Spin-Off Convenience assets on October 30, 2023. As of October 1, 2024, The parties entered into a separation and distribution agreement on October 1, 2024. Shareholders of SITE Centers will receive shares of CURB via a taxable pro rata stock distribution. As per the transaction, SITE Centers shareholders will receive two shares of Curbline common stock for every one common share of SITE Centers held at the close of business on the record date of September 23, 2024. SITE Centers Board of Directors has unanimously approved the transaction. SITE Centers Corp. plans to spin off Convenience assets into a separate publicly-traded REIT to be named Curbline Properties Corp. The transaction is subject to certain conditions, including the effectiveness of CURB's Form 10 registration statement and final approval and declaration of the distribution by SITE Centers' Board of Directors. The transaction does not require shareholder approval. CURB expects to confidentially submit its initial draft Form 10 registration statement with the U.S. Securities and Exchange Commission in 2024, and the spin-off is expected to be completed on October 1, 2024. As of February 13, 2024, The spin-off is expected to be completed on or around October 1, 2024. As on September 11, 2024, in connection with the Spin Off, the Board of Directors of SITE Centers Corp reduced the size of the Board from eight members to five members. Morgan Stanley & Co. LLC and Wells Fargo are acting as lead financial advisors and Jones Day is serving as legal counsel, Computershare Trust Company, National Association acted as a transfer agent to SITE Centers. SITE Centers Corp. completed the Spin-Off of Curbline Properties Corp. on October 1, 2024.お知らせ • Sep 17+ 1 more updateSITE Centers Corp. Announces CFO ChangesSITE Centers Corp. announced that Gerald (Gerry) Morgan joined SITE Centers in September and will be appointed as Chief Financial Officer upon the closing of the spin-off transaction, replacing Conor Fennerty who will join Curbline as its Chief Financial Officer. Previously, Mr. Morgan served as the Chief Financial Officer of Four Corners Property Trust, a public REIT focused on net lease properties in the restaurant and retail industries, from 2015 through April 2024.Buy Or Sell Opportunity • Sep 10Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.9% to €51.26. The fair value is estimated to be €64.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 54%. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings are also forecast to decline by 93% per annum over the same time period.お知らせ • Aug 30SITE Centers Corp. (NYSE:SITC) acquired Village Plaza and Brookhaven Station.SITE Centers Corp. (NYSE:SITC) acquired Village Plaza and Brookhaven Station on August 29, 2024. In other related transactions SITE Centers Corp acquired two other properties including Crocker Commons and Maple Corner for $88 million. SITE Centers Corp. (NYSE:SITC) completed the acquisition of Village Plaza and Brookhaven Station on August 29, 2024.Recent Insider Transactions • Aug 26Executive VP recently sold €318k worth of stockOn the 21st of August, Conor Fennerty sold around 6k shares on-market at roughly €54.39 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €10m. This was Conor's only on-market trade for the last 12 months.お知らせ • Aug 09SITE Centers Corp. announced that it has received $530 million in fundingSITE Centers Corp. announced a private placement with the amount of $530 million on August 7, 2024. The transaction included participation from new lenders, Athene Annuity and Life Company and ATLAS SP Partners, L.P. The company has issued mortgage loan facility in the transaction. The loan carries variable rate of interest to two one-year extensions at the borrowers’ option conditioned upon, among other items, the absence of an event of default, satisfaction of a debt yield requirement (12.5% with respect to the first extension option and 13.0% with respect to the second extension option) and payment of a fee at the time of each extension in the amount of 0.25% of the then outstanding principal amount of the loan. The loan will mature on September 6, 2026.Recent Insider Transactions • Aug 04Independent Director recently sold €10m worth of stockOn the 1st of August, Alexander Otto sold around 718k shares on-market at roughly €14.41 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €51m more than they bought in the last 12 months.Reported Earnings • Jul 31Second quarter 2024 earnings released: FFO per share: US$0.2 (vs US$0.27 in 2Q 2023)Second quarter 2024 results: FFO per share: US$0.2 (down from US$0.27 in 2Q 2023). Revenue: US$115.7m (down 18% from 2Q 2023). Funds from operations (FFO): US$40.2m (down 30% from 2Q 2023). FFO margin: 35% (down from 41% in 2Q 2023). Revenue is expected to fall by 3.0% p.a. on average during the next 3 years compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.お知らせ • Jul 17SITE Centers Corp. to Report Q2, 2024 Results on Jul 30, 2024SITE Centers Corp. announced that they will report Q2, 2024 results Pre-Market on Jul 30, 2024お知らせ • Jun 15Pine Tree Commercial Realty, LLC completed the acquisition of Six Property Portfolio of SITE Centers Corp.Pine Tree Commercial Realty, LLC entered into a definitive agreement to acquire Six Property Portfolio of SITE Centers Corp. for approximately $500 million on May 17, 2024. Transaction is expected to close in Q2 of 2024. Pine Tree Commercial Realty, LLC completed the acquisition of Six Property Portfolio of SITE Centers Corp. on June 13, 2024.Recent Insider Transactions • Jun 13Independent Director recently sold €4.0m worth of stockOn the 11th of June, Alexander Otto sold around 301k shares on-market at roughly €13.44 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.2m more than they bought in the last 12 months.Upcoming Dividend • Jun 11Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 18 June 2024. Payment date: 09 July 2024. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.2%).Buy Or Sell Opportunity • May 21Now 22% undervaluedThe stock has been flat over the last 90 days, currently trading at €12.80. The fair value is estimated to be €16.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 11% in a year. Earnings are forecast to decline by 86% in the next year.Declared Dividend • May 13Dividend of US$0.13 announcedShareholders will receive a dividend of US$0.13. Ex-date: 18th June 2024 Payment date: 9th July 2024 Dividend yield will be 4.9%, which is lower than the industry average of 5.6%.お知らせ • May 09SITE Centers Corp. Declares Common Stock Dividend for Second Quarter 2024, Payable on July 9, 2024SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the second quarter of 2024. The dividend is payable on July 9, 2024 to shareholders of record at the close of business on June 18, 2024.Reported Earnings • May 01First quarter 2024 earnings released: US$0.13 loss per share (vs US$0.059 profit in 1Q 2023)First quarter 2024 results: US$0.13 loss per share (down from US$0.059 profit in 1Q 2023). Revenue: US$122.1m (down 13% from 1Q 2023). Net loss: US$26.3m (down 313% from profit in 1Q 2023). Revenue is expected to fall by 3.4% p.a. on average during the next 2 years compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.お知らせ • Apr 30Site Centers Corp. Reports Impairment of Real Estate for First Quarter of 2024SITE Centers Corp. reported impairment of real estate of $66,600,000 for first quarter of 2024.お知らせ • Apr 16SITE Centers Corp. to Report Q1, 2024 Results on Apr 30, 2024SITE Centers Corp. announced that they will report Q1, 2024 results Pre-Market on Apr 30, 2024お知らせ • Apr 03SITE Centers Corp., Annual General Meeting, May 08, 2024SITE Centers Corp., Annual General Meeting, May 08, 2024, at 09:00 US Eastern Standard Time. Agenda: To consider election of eight Directors; to consider authorization of the Company’s Board of Directors (the “Board”) to effect, in its discretion, a reverse stock split of the Company’s common shares and adoption of a corresponding amendment to the Company’s Fourth Amended and Restated Articles of Incorporation (the “Articles of Incorporation”); to consider approval, on an advisory basis, of the compensation of the Company’s named executive officers; and to consider ratification of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm.お知らせ • Mar 15SITE Centers Corp. Appoints Christina M. Yarian as Senior Vice President and Chief Accounting OfficerOn March 13, 2024, the Board of Directors of SITE Centers Corp. appointed Christina M. Yarian as Senior Vice President and Chief Accounting Officer of the Company, effective March 13, 2024. Ms. Yarian, age 46, most recently served as the Company’s Vice President and Corporate Controller since May 2015. Ms. Yarian holds a bachelor’s degree from Miami University.Upcoming Dividend • Mar 06Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 13 March 2024. Payment date: 05 April 2024. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (6.3%).お知らせ • Feb 29SITE Centers Corp. Announces the Resignation of Christa A. Vesy, Executive Vice President and Chief Accounting OfficerOn February 22, 2024, Christa A. Vesy, Executive Vice President and Chief Accounting Officer of SITE Centers Corp. (the “ Company”), notified the Company that she will resign from the Company on March 8, 2024. It is anticipated that Ms. Vesy will remain the Company’s principal accounting officer until her resignation.Declared Dividend • Feb 16Dividend of US$0.13 announcedShareholders will receive a dividend of US$0.13. Ex-date: 13th March 2024 Payment date: 5th April 2024 Dividend yield will be 4.8%, which is lower than the industry average of 5.6%.Reported Earnings • Feb 14Full year 2023 earnings released: EPS: US$1.22 (vs US$0.74 in FY 2022)Full year 2023 results: EPS: US$1.22 (up from US$0.74 in FY 2022). Revenue: US$546.3m (down 4.9% from FY 2022). Net income: US$254.5m (up 62% from FY 2022). Profit margin: 47% (up from 27% in FY 2022). Revenue is expected to fall by 6.5% p.a. on average during the next 3 years compared to a 2.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 13SITE Centers Corp. Declares First Quarter Dividend, Payable on April 5, 2024SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the first quarter of 2024. The dividend is payable on April 5, 2024 to shareholders of record at the close of business on March 14, 2024.お知らせ • Feb 06JBL Asset Management, LLC acquired Casselberry Commons from SITE Centers Corp. (NYSE:SITC) for $40.3 million.JBL Asset Management, LLC acquired Casselberry Commons from SITE Centers Corp. (NYSE:SITC) for $40.3 million on February 5, 2024.JBL Asset Management, LLC completed the acquisition of Casselberry Commons from SITE Centers Corp. (NYSE:SITC) on February 5, 2024.お知らせ • Jan 26SITE Centers Corp. to Report Q4, 2023 Results on Feb 13, 2024SITE Centers Corp. announced that they will report Q4, 2023 results Pre-Market on Feb 13, 2024Buying Opportunity • Dec 28Now 20% undervaluedOver the last 90 days, the stock is up 5.1%. The fair value is estimated to be €15.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 0.5% in 2 years. Earnings is forecast to decline by 44% in the next 2 years.Upcoming Dividend • Dec 19Upcoming dividend of US$0.16 per share at 3.8% yieldEligible shareholders must have bought the stock before 26 December 2023. Payment date: 12 January 2024. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.1%).お知らせ • Dec 14SITE Centers Corp. Declares Special Dividend, Payable on January 12, 2024SITE Centers Corp. declared a cash special dividend of $0.16 per share resulting from 2023 transaction activity. The dividend is payable on January 12, 2024 to shareholders of record at the close of business on December 27, 2023.Upcoming Dividend • Dec 01Upcoming dividend of US$0.13 per share at 3.9% yieldEligible shareholders must have bought the stock before 08 December 2023. Payment date: 05 January 2024. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.3%).Reported Earnings • Nov 01Third quarter 2023 earnings released: EPS: US$0.22 (vs US$0.30 in 3Q 2022)Third quarter 2023 results: EPS: US$0.22 (down from US$0.30 in 3Q 2022). Revenue: US$144.8m (down 9.6% from 3Q 2022). Net income: US$45.9m (down 28% from 3Q 2022). Profit margin: 32% (down from 40% in 3Q 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.お知らせ • Oct 31+ 3 more updatesSITE Centers Corp. Expects to Declare and Pay Special Cash Dividend Prior to January 31, 2024SITE Centers Corp. expected to declare and pay a special cash dividend of at least $0.10 per share prior to January 31, 2024 subject to final SITE Centers’ Board of Directors approval. The Company will assess and expects to adjust, if necessary, future quarterly dividends prior to the spin-off of CURB.お知らせ • Oct 17SITE Centers Corp. to Report Q3, 2023 Results on Nov 02, 2023SITE Centers Corp. announced that they will report Q3, 2023 results Pre-Market on Nov 02, 2023お知らせ • Sep 14SITE Centers Corp. Declares Dividend on Common Stock for the Third Quarter of 2023, Payable on October 12, 2023SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the third quarter of 2023. The dividend is payable on October 12, 2023 to shareholders of record at the close of business on September 26, 2023.New Risk • Jul 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 18% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings are forecast to decline by an average of 50% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (18% net profit margin).お知らせ • Jul 26SITE Centers Corp. (NYSE:SITC) acquired Briarcroft Center for $23.5 million.SITE Centers Corp. (NYSE:SITC) acquired Briarcroft Center for $23.5 million on May 8, 2023.SITE Centers Corp. (NYSE:SITC) completed the acquisition of Briarcroft Center on on May 8, 2023.Reported Earnings • Jul 26Second quarter 2023 earnings released: EPS: US$0.012 (vs US$0.27 in 2Q 2022)Second quarter 2023 results: EPS: US$0.012 (down from US$0.27 in 2Q 2022). Revenue: US$138.2m (down 2.7% from 2Q 2022). Net income: US$2.56m (down 96% from 2Q 2022). Profit margin: 1.9% (down from 41% in 2Q 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.4% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.お知らせ • Jul 26+ 1 more updateSITE Centers Corp. (NYSE:SITC) acquired Alpha Soda Center for $9.4 million.SITE Centers Corp. (NYSE:SITC) acquired Alpha Soda Center for $9.4 million on May 5, 2023.SITE Centers Corp. (NYSE:SITC) completed the acquisition of Alpha Soda Center on May 5, 2023.お知らせ • Jul 12SITE Centers Corp. to Report Q2, 2023 Results on Jul 25, 2023SITE Centers Corp. announced that they will report Q2, 2023 results Pre-Market on Jul 25, 2023Upcoming Dividend • Jun 06Upcoming dividend of US$0.13 per share at 4.1% yieldEligible shareholders must have bought the stock before 13 June 2023. Payment date: 06 July 2023. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.9%).お知らせ • May 11SITE Centers Corp. Declares Common Stock Dividend for Second Quarter 2023, Payable on July 6, 2023SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the second quarter of 2023. The dividend is payable on July 6, 2023 to shareholders of record at the close of business on June 14, 2023.Reported Earnings • Apr 26First quarter 2023 earnings released: FFO per share: US$0.3 (vs US$0.29 in 1Q 2022)First quarter 2023 results: FFO per share: US$0.3 (up from US$0.29 in 1Q 2022). Revenue: US$140.1m (up 4.1% from 1Q 2022). Funds from operations (FFO): US$61.9m (up 1.1% from 1Q 2022). FFO margin: 44% (down from 46% in 1Q 2022). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Mar 21Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €13.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has grown by 55%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings is forecast to decline by 44% per annum over the same time period.Upcoming Dividend • Mar 09Upcoming dividend of US$0.13 per share at 4.0% yieldEligible shareholders must have bought the stock before 16 March 2023. Payment date: 06 April 2023. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.0%).お知らせ • Feb 15Centers Declares Common Stock Dividend for the First Quarter 2023, Payable on April 6, 2023SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the first quarter of 2023. The dividend is payable on April 6, 2023 to shareholders of record at the close of business on March 17, 2023.Reported Earnings • Feb 09Full year 2022 earnings released: FFO per share: US$1.2 (vs US$1.17 in FY 2021)Full year 2022 results: FFO per share: US$1.2 (up from US$1.17 in FY 2021). Revenue: US$580.2m (flat on FY 2021). Funds from operations (FFO): US$251.0m (up 3.4% from FY 2021). FFO margin: 43% (up from 42% in FY 2021). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.お知らせ • Feb 09+ 2 more updatesAn unknown buyer acquired Presidential Commons for $7 million.An unknown buyer acquired Presidential Commons for $7 million on December 1, 2022.An unknown buyer completed the acquisition of Presidential Commons on December 1, 2022.お知らせ • Jan 24SITE Centers Corp. to Report Q4, 2022 Results on Feb 08, 2023SITE Centers Corp. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 08, 2023Recent Insider Transactions • Dec 30Executive VP & Chief Investment Officer recently sold €141k worth of stockOn the 27th of December, John Cattonar sold around 11k shares on-market at roughly €12.78 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €5.7m more than they bought in the last 12 months.Upcoming Dividend • Dec 01Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 08 December 2022. Payment date: 06 January 2023. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.6%).Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Director Barry Sholem was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 26Third quarter 2022 earnings released: FFO per share: US$0.3 (vs US$0.33 in 3Q 2021)Third quarter 2022 results: FFO per share: US$0.3 (down from US$0.33 in 3Q 2021). Funds from operations (FFO): US$61.6m (down 7.3% from 3Q 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Upcoming Dividend • Sep 12Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 19 September 2022. Payment date: 07 October 2022. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.1%).Reported Earnings • Jul 29Second quarter 2022 earnings released: EPS: US$0.27 (vs US$0.065 in 2Q 2021)Second quarter 2022 results: EPS: US$0.27 (up from US$0.065 in 2Q 2021). Revenue: US$140.7m (up 1.0% from 2Q 2021). Net income: US$58.3m (up 328% from 2Q 2021). Profit margin: 41% (up from 9.8% in 2Q 2021). Over the next year, revenue is expected to shrink by 9.4% compared to a 2.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.Upcoming Dividend • Jun 01Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 08 June 2022. Payment date: 06 July 2022. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.4%).Recent Insider Transactions • Apr 30President recently sold €4.9m worth of stockOn the 28th of April, David Lukes sold around 311k shares on-market at roughly €15.76 per share. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months.Reported Earnings • Apr 27First quarter 2022 earnings released: EPS: US$0.053 (vs US$0.054 in 1Q 2021)First quarter 2022 results: EPS: US$0.053. Revenue: US$134.3m (up 1.4% from 1Q 2021). Net income: US$11.1m (up 3.6% from 1Q 2021). Profit margin: 8.3% (up from 8.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to decline by 10% while the industry in Germany is not expected to grow.Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 3 highly experienced directors. Independent Director Dawn Sweeney was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.株主還元DDRDE Retail REITsDE 市場7D-3.0%1.2%1.6%1Y-57.1%9.6%2.2%株主還元を見る業界別リターン: DDR過去 1 年間で9.6 % の収益を上げたGerman Retail REITs業界を下回りました。リターン対市場: DDRは、過去 1 年間で2.2 % のリターンを上げたGerman市場を下回りました。価格変動Is DDR's price volatile compared to industry and market?DDR volatilityDDR Average Weekly Movement4.3%Retail REITs Industry Average Movement3.1%Market Average Movement6.0%10% most volatile stocks in DE Market13.2%10% least volatile stocks in DE Market2.7%安定した株価: DDR 、 German市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: DDRの 週次ボラティリティ ( 4% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1965155David Lukeswww.sitecenters.comSITEセンターズは、主に郊外の高世帯所得地域に立地するオープンエア・ショッピングセンターのオーナー兼マネージャーである。当社は完全統合型不動産会社として運営される自主管理・自主運営のREITであり、ティッカーシンボルSITCでニューヨーク証券取引所に株式公開されている。もっと見るSITE Centers Corp. 基礎のまとめSITE Centers の収益と売上を時価総額と比較するとどうか。DDR 基礎統計学時価総額€238.73m収益（TTM）€149.66m売上高(TTM)€80.09m1.6xPER（株価収益率2.9xP/SレシオDDR は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計DDR 損益計算書（TTM）収益US$93.13m売上原価US$33.64m売上総利益US$59.50mその他の費用-US$114.52m収益US$174.02m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）3.32グロス・マージン63.89%純利益率186.85%有利子負債／自己資本比率0%DDR の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/27 11:24終値2026/05/27 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋SITE Centers Corp. 1 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。20 アナリスト機関Richard MilliganBairdCraig SchmidtBofA Global ResearchMichael GormanBrean Capital Historical (Janney Montgomery)17 その他のアナリストを表示
お知らせ • Apr 24SITE Centers Corp. to Report Q1, 2026 Results on May 07, 2026SITE Centers Corp. announced that they will report Q1, 2026 results After-Market on May 07, 2026
お知らせ • Mar 16SITE Centers Corp., Annual General Meeting, May 13, 2026SITE Centers Corp., Annual General Meeting, May 13, 2026.
お知らせ • Feb 12SITE Centers Corp. to Report Q4, 2025 Results on Feb 26, 2026SITE Centers Corp. announced that they will report Q4, 2025 results After-Market on Feb 26, 2026
お知らせ • Dec 05SITE Centers Corp. Announces Special Common Stock Distribution, Payable on December 30, 2025SITE Centers Corp. announced a special cash distribution on its common shares of $1.00 per common share payable on December 30, 2025 to shareholders of record at the close of business on December 15, 2025.
お知らせ • Nov 21An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million.An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million on November 20, 2025. A portion of net proceeds were used to repay $24.3 million of mortgage debt. An undisclosed buyer completed the acquisition of Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) on November 20, 2025.
お知らせ • Oct 28SITE Centers Corp. to Report Q3, 2025 Results on Nov 05, 2025SITE Centers Corp. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025
お知らせ • Apr 24SITE Centers Corp. to Report Q1, 2026 Results on May 07, 2026SITE Centers Corp. announced that they will report Q1, 2026 results After-Market on May 07, 2026
お知らせ • Mar 16SITE Centers Corp., Annual General Meeting, May 13, 2026SITE Centers Corp., Annual General Meeting, May 13, 2026.
お知らせ • Feb 12SITE Centers Corp. to Report Q4, 2025 Results on Feb 26, 2026SITE Centers Corp. announced that they will report Q4, 2025 results After-Market on Feb 26, 2026
お知らせ • Dec 05SITE Centers Corp. Announces Special Common Stock Distribution, Payable on December 30, 2025SITE Centers Corp. announced a special cash distribution on its common shares of $1.00 per common share payable on December 30, 2025 to shareholders of record at the close of business on December 15, 2025.
お知らせ • Nov 21An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million.An undisclosed buyer acquired Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) for $28.5 million on November 20, 2025. A portion of net proceeds were used to repay $24.3 million of mortgage debt. An undisclosed buyer completed the acquisition of Paradise Village Gateway from SITE Centers Corp. (NYSE:SITC) on November 20, 2025.
お知らせ • Oct 28SITE Centers Corp. to Report Q3, 2025 Results on Nov 05, 2025SITE Centers Corp. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025
お知らせ • Oct 22SITE Centers Corp. Announces Special Common Stock Distribution, Payable on November 14, 2025SITE Centers Corp. announced a special cash distribution on its common shares of $1.00 per common share payable on November 14, 2025 to shareholders of record at the close of business on October 31, 2025.
お知らせ • Sep 25Haverford Retail Partners Purchase Agreement to acquire Portfolio of Three Properties in East Hanover, NJ, Easton, PA, and Stow, OH from SITE Centers Corp. (NYSE:SITC) for approximately $130 million.Haverford Retail Partners Purchase Agreement to acquire Portfolio of Three Properties in East Hanover, NJ, Easton, PA and Stow, OH from SITE Centers Corp. (NYSE:SITC) for approximately $130 million on September 15, 2025. A cash consideration of $126 million will be paid by Haverford Retail Partners. The portfolio includes East Hanover Plaz, Southmont Plaza and Stow Community Center. Closing remains subject to customary conditions, including, but not limited to, delivery of estoppel letters from tenants, the accuracy of the Sellers representations in all material respects and the absence of certain casualty or condemnation events. The transaction is expected to occur in the fourth quarter of 2025. .
お知らせ • Aug 02+ 1 more updateAn undisclosed buyer acquired Deer Valley Towne Center in Phoenix, AZ from SITE Centers Corp. (NYSE:SITC) for $33.7 million.An undisclosed buyer acquired Deer Valley Towne Center in Phoenix, AZ from SITE Centers Corp. (NYSE:SITC) for $33.7 million on August 1, 2025. In a related transaction, an undisclosed buyer acquired Winter Garden Village from SITE Centers Corp. for approximately $170 million on August 1, 2025. A portion of net proceeds were used to repay $22.3 million of mortgage debt. The Company’s Board of Directors also declared a special cash distribution on its common shares of $3.25 per common share payable on August 29, 2025 to shareholders of record at the close of business on August 15, 2025. Due bill obligations are customarily settled between the brokers representing the buyers and the sellers of shares. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of the Company’s common shares should consult their brokers before trading to be sure they understand the effect of NYSE’s due bill procedures. An undisclosed buyer completed the acquisition of Deer Valley Towne Center in Phoenix, AZ from SITE Centers Corp. (NYSE:SITC) on August 1, 2025.
お知らせ • Jul 29SITE Centers Corp. to Report Q2, 2025 Results on Aug 05, 2025SITE Centers Corp. announced that they will report Q2, 2025 results After-Market on Aug 05, 2025
お知らせ • Jul 22An undisclosed buyer acquired Sandy Plains Village in Roswell, GA from SITE Centers Corp. (NYSE:SITC) for $25 million.An undisclosed buyer acquired Sandy Plains Village in Roswell, GA from SITE Centers Corp. (NYSE:SITC) for $25 million on July 21, 2025. SITE Centers Corp. sold Sandy Plains Village (Roswell, GA) for $25 million, prior to closing costs, prorations and other closing adjustments. $18.1 million of net proceeds were used to repay mortgage debt. An undisclosed buyer completed the acquisition of Sandy Plains Village in Roswell, GA from SITE Centers Corp. (NYSE:SITC) on July 21, 2025.
お知らせ • Jun 18Site Centers Corp. Declares Special Common Distribution, Payable on July 15, 2025SITE Centers Corp. declared a special cash distribution on its common shares of $1.50 per common share payable on July 15, 2025 to shareholders of record at the close of business on June 30, 2025.
お知らせ • May 01SITE Centers Corp. to Report Q1, 2025 Results on May 07, 2025SITE Centers Corp. announced that they will report Q1, 2025 results After-Market on May 07, 2025
お知らせ • Apr 05SITE Centers Corp., Annual General Meeting, May 14, 2025SITE Centers Corp., Annual General Meeting, May 14, 2025. Location: meetnow.global/mzr2p4u., United States
お知らせ • Feb 04SITE Centers Corp. to Report Q4, 2024 Results on Feb 27, 2025SITE Centers Corp. announced that they will report Q4, 2024 results Pre-Market on Feb 27, 2025
Recent Insider Transactions • Nov 17Insider recently sold €9.9m worth of stockOn the 13th of November, Alexander Otto sold around 653k shares on-market at roughly €15.19 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €61m more than they bought in the last 12 months.
お知らせ • Nov 14SITE Centers Corp. (NYSE:SITC) acquired Crossroads Marketplace in Chino Hills, California for $34.2 million.SITE Centers Corp. (NYSE:SITC) acquired Crossroads Marketplace in Chino Hills, California for $34.2 million during the quarter ended, September 30, 2024. SITE Centers Corp. (NYSE:SITC) completed the acquisition of Crossroads Marketplace in Chino Hills, California during the quarter ended, September 30, 2024.
Reported Earnings • Nov 01Third quarter 2024 earnings released: US$0.26 FFO loss per share (vs US$1.29 profit in 3Q 2023)Third quarter 2024 results: US$0.26 FFO loss per share (down from US$1.29 profit in 3Q 2023). Revenue: US$91.1m (down 37% from 3Q 2023). Funds from operations (FFO) loss: US$13.5m (down 120% from profit in 3Q 2023). Revenue is expected to fall by 12% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings.
お知らせ • Oct 22SITE Centers Corp. to Report Q3, 2024 Results on Oct 30, 2024SITE Centers Corp. announced that they will report Q3, 2024 results Pre-Market on Oct 30, 2024
Board Change • Oct 15Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Chairman Dawn Sweeney was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Oct 02SITE Centers Corp. completed the Spin-Off of Curbline Properties Corp. (NYSE:CURB).The board of SITE Centers Corp. (NYSE:SITC) agreed to Spin-Off Convenience assets on October 30, 2023. As of October 1, 2024, The parties entered into a separation and distribution agreement on October 1, 2024. Shareholders of SITE Centers will receive shares of CURB via a taxable pro rata stock distribution. As per the transaction, SITE Centers shareholders will receive two shares of Curbline common stock for every one common share of SITE Centers held at the close of business on the record date of September 23, 2024. SITE Centers Board of Directors has unanimously approved the transaction. SITE Centers Corp. plans to spin off Convenience assets into a separate publicly-traded REIT to be named Curbline Properties Corp. The transaction is subject to certain conditions, including the effectiveness of CURB's Form 10 registration statement and final approval and declaration of the distribution by SITE Centers' Board of Directors. The transaction does not require shareholder approval. CURB expects to confidentially submit its initial draft Form 10 registration statement with the U.S. Securities and Exchange Commission in 2024, and the spin-off is expected to be completed on October 1, 2024. As of February 13, 2024, The spin-off is expected to be completed on or around October 1, 2024. As on September 11, 2024, in connection with the Spin Off, the Board of Directors of SITE Centers Corp reduced the size of the Board from eight members to five members. Morgan Stanley & Co. LLC and Wells Fargo are acting as lead financial advisors and Jones Day is serving as legal counsel, Computershare Trust Company, National Association acted as a transfer agent to SITE Centers. SITE Centers Corp. completed the Spin-Off of Curbline Properties Corp. on October 1, 2024.
お知らせ • Sep 17+ 1 more updateSITE Centers Corp. Announces CFO ChangesSITE Centers Corp. announced that Gerald (Gerry) Morgan joined SITE Centers in September and will be appointed as Chief Financial Officer upon the closing of the spin-off transaction, replacing Conor Fennerty who will join Curbline as its Chief Financial Officer. Previously, Mr. Morgan served as the Chief Financial Officer of Four Corners Property Trust, a public REIT focused on net lease properties in the restaurant and retail industries, from 2015 through April 2024.
Buy Or Sell Opportunity • Sep 10Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.9% to €51.26. The fair value is estimated to be €64.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 54%. For the next 3 years, revenue is forecast to decline by 11% per annum. Earnings are also forecast to decline by 93% per annum over the same time period.
お知らせ • Aug 30SITE Centers Corp. (NYSE:SITC) acquired Village Plaza and Brookhaven Station.SITE Centers Corp. (NYSE:SITC) acquired Village Plaza and Brookhaven Station on August 29, 2024. In other related transactions SITE Centers Corp acquired two other properties including Crocker Commons and Maple Corner for $88 million. SITE Centers Corp. (NYSE:SITC) completed the acquisition of Village Plaza and Brookhaven Station on August 29, 2024.
Recent Insider Transactions • Aug 26Executive VP recently sold €318k worth of stockOn the 21st of August, Conor Fennerty sold around 6k shares on-market at roughly €54.39 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €10m. This was Conor's only on-market trade for the last 12 months.
お知らせ • Aug 09SITE Centers Corp. announced that it has received $530 million in fundingSITE Centers Corp. announced a private placement with the amount of $530 million on August 7, 2024. The transaction included participation from new lenders, Athene Annuity and Life Company and ATLAS SP Partners, L.P. The company has issued mortgage loan facility in the transaction. The loan carries variable rate of interest to two one-year extensions at the borrowers’ option conditioned upon, among other items, the absence of an event of default, satisfaction of a debt yield requirement (12.5% with respect to the first extension option and 13.0% with respect to the second extension option) and payment of a fee at the time of each extension in the amount of 0.25% of the then outstanding principal amount of the loan. The loan will mature on September 6, 2026.
Recent Insider Transactions • Aug 04Independent Director recently sold €10m worth of stockOn the 1st of August, Alexander Otto sold around 718k shares on-market at roughly €14.41 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €51m more than they bought in the last 12 months.
Reported Earnings • Jul 31Second quarter 2024 earnings released: FFO per share: US$0.2 (vs US$0.27 in 2Q 2023)Second quarter 2024 results: FFO per share: US$0.2 (down from US$0.27 in 2Q 2023). Revenue: US$115.7m (down 18% from 2Q 2023). Funds from operations (FFO): US$40.2m (down 30% from 2Q 2023). FFO margin: 35% (down from 41% in 2Q 2023). Revenue is expected to fall by 3.0% p.a. on average during the next 3 years compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
お知らせ • Jul 17SITE Centers Corp. to Report Q2, 2024 Results on Jul 30, 2024SITE Centers Corp. announced that they will report Q2, 2024 results Pre-Market on Jul 30, 2024
お知らせ • Jun 15Pine Tree Commercial Realty, LLC completed the acquisition of Six Property Portfolio of SITE Centers Corp.Pine Tree Commercial Realty, LLC entered into a definitive agreement to acquire Six Property Portfolio of SITE Centers Corp. for approximately $500 million on May 17, 2024. Transaction is expected to close in Q2 of 2024. Pine Tree Commercial Realty, LLC completed the acquisition of Six Property Portfolio of SITE Centers Corp. on June 13, 2024.
Recent Insider Transactions • Jun 13Independent Director recently sold €4.0m worth of stockOn the 11th of June, Alexander Otto sold around 301k shares on-market at roughly €13.44 per share. This transaction amounted to 1.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.2m more than they bought in the last 12 months.
Upcoming Dividend • Jun 11Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 18 June 2024. Payment date: 09 July 2024. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.2%).
Buy Or Sell Opportunity • May 21Now 22% undervaluedThe stock has been flat over the last 90 days, currently trading at €12.80. The fair value is estimated to be €16.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 11% in a year. Earnings are forecast to decline by 86% in the next year.
Declared Dividend • May 13Dividend of US$0.13 announcedShareholders will receive a dividend of US$0.13. Ex-date: 18th June 2024 Payment date: 9th July 2024 Dividend yield will be 4.9%, which is lower than the industry average of 5.6%.
お知らせ • May 09SITE Centers Corp. Declares Common Stock Dividend for Second Quarter 2024, Payable on July 9, 2024SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the second quarter of 2024. The dividend is payable on July 9, 2024 to shareholders of record at the close of business on June 18, 2024.
Reported Earnings • May 01First quarter 2024 earnings released: US$0.13 loss per share (vs US$0.059 profit in 1Q 2023)First quarter 2024 results: US$0.13 loss per share (down from US$0.059 profit in 1Q 2023). Revenue: US$122.1m (down 13% from 1Q 2023). Net loss: US$26.3m (down 313% from profit in 1Q 2023). Revenue is expected to fall by 3.4% p.a. on average during the next 2 years compared to a 3.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
お知らせ • Apr 30Site Centers Corp. Reports Impairment of Real Estate for First Quarter of 2024SITE Centers Corp. reported impairment of real estate of $66,600,000 for first quarter of 2024.
お知らせ • Apr 16SITE Centers Corp. to Report Q1, 2024 Results on Apr 30, 2024SITE Centers Corp. announced that they will report Q1, 2024 results Pre-Market on Apr 30, 2024
お知らせ • Apr 03SITE Centers Corp., Annual General Meeting, May 08, 2024SITE Centers Corp., Annual General Meeting, May 08, 2024, at 09:00 US Eastern Standard Time. Agenda: To consider election of eight Directors; to consider authorization of the Company’s Board of Directors (the “Board”) to effect, in its discretion, a reverse stock split of the Company’s common shares and adoption of a corresponding amendment to the Company’s Fourth Amended and Restated Articles of Incorporation (the “Articles of Incorporation”); to consider approval, on an advisory basis, of the compensation of the Company’s named executive officers; and to consider ratification of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm.
お知らせ • Mar 15SITE Centers Corp. Appoints Christina M. Yarian as Senior Vice President and Chief Accounting OfficerOn March 13, 2024, the Board of Directors of SITE Centers Corp. appointed Christina M. Yarian as Senior Vice President and Chief Accounting Officer of the Company, effective March 13, 2024. Ms. Yarian, age 46, most recently served as the Company’s Vice President and Corporate Controller since May 2015. Ms. Yarian holds a bachelor’s degree from Miami University.
Upcoming Dividend • Mar 06Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 13 March 2024. Payment date: 05 April 2024. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (6.3%).
お知らせ • Feb 29SITE Centers Corp. Announces the Resignation of Christa A. Vesy, Executive Vice President and Chief Accounting OfficerOn February 22, 2024, Christa A. Vesy, Executive Vice President and Chief Accounting Officer of SITE Centers Corp. (the “ Company”), notified the Company that she will resign from the Company on March 8, 2024. It is anticipated that Ms. Vesy will remain the Company’s principal accounting officer until her resignation.
Declared Dividend • Feb 16Dividend of US$0.13 announcedShareholders will receive a dividend of US$0.13. Ex-date: 13th March 2024 Payment date: 5th April 2024 Dividend yield will be 4.8%, which is lower than the industry average of 5.6%.
Reported Earnings • Feb 14Full year 2023 earnings released: EPS: US$1.22 (vs US$0.74 in FY 2022)Full year 2023 results: EPS: US$1.22 (up from US$0.74 in FY 2022). Revenue: US$546.3m (down 4.9% from FY 2022). Net income: US$254.5m (up 62% from FY 2022). Profit margin: 47% (up from 27% in FY 2022). Revenue is expected to fall by 6.5% p.a. on average during the next 3 years compared to a 2.1% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 13SITE Centers Corp. Declares First Quarter Dividend, Payable on April 5, 2024SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the first quarter of 2024. The dividend is payable on April 5, 2024 to shareholders of record at the close of business on March 14, 2024.
お知らせ • Feb 06JBL Asset Management, LLC acquired Casselberry Commons from SITE Centers Corp. (NYSE:SITC) for $40.3 million.JBL Asset Management, LLC acquired Casselberry Commons from SITE Centers Corp. (NYSE:SITC) for $40.3 million on February 5, 2024.JBL Asset Management, LLC completed the acquisition of Casselberry Commons from SITE Centers Corp. (NYSE:SITC) on February 5, 2024.
お知らせ • Jan 26SITE Centers Corp. to Report Q4, 2023 Results on Feb 13, 2024SITE Centers Corp. announced that they will report Q4, 2023 results Pre-Market on Feb 13, 2024
Buying Opportunity • Dec 28Now 20% undervaluedOver the last 90 days, the stock is up 5.1%. The fair value is estimated to be €15.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has grown by 52%. Revenue is forecast to decline by 0.5% in 2 years. Earnings is forecast to decline by 44% in the next 2 years.
Upcoming Dividend • Dec 19Upcoming dividend of US$0.16 per share at 3.8% yieldEligible shareholders must have bought the stock before 26 December 2023. Payment date: 12 January 2024. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.1%).
お知らせ • Dec 14SITE Centers Corp. Declares Special Dividend, Payable on January 12, 2024SITE Centers Corp. declared a cash special dividend of $0.16 per share resulting from 2023 transaction activity. The dividend is payable on January 12, 2024 to shareholders of record at the close of business on December 27, 2023.
Upcoming Dividend • Dec 01Upcoming dividend of US$0.13 per share at 3.9% yieldEligible shareholders must have bought the stock before 08 December 2023. Payment date: 05 January 2024. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.3%).
Reported Earnings • Nov 01Third quarter 2023 earnings released: EPS: US$0.22 (vs US$0.30 in 3Q 2022)Third quarter 2023 results: EPS: US$0.22 (down from US$0.30 in 3Q 2022). Revenue: US$144.8m (down 9.6% from 3Q 2022). Net income: US$45.9m (down 28% from 3Q 2022). Profit margin: 32% (down from 40% in 3Q 2022). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.7% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
お知らせ • Oct 31+ 3 more updatesSITE Centers Corp. Expects to Declare and Pay Special Cash Dividend Prior to January 31, 2024SITE Centers Corp. expected to declare and pay a special cash dividend of at least $0.10 per share prior to January 31, 2024 subject to final SITE Centers’ Board of Directors approval. The Company will assess and expects to adjust, if necessary, future quarterly dividends prior to the spin-off of CURB.
お知らせ • Oct 17SITE Centers Corp. to Report Q3, 2023 Results on Nov 02, 2023SITE Centers Corp. announced that they will report Q3, 2023 results Pre-Market on Nov 02, 2023
お知らせ • Sep 14SITE Centers Corp. Declares Dividend on Common Stock for the Third Quarter of 2023, Payable on October 12, 2023SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the third quarter of 2023. The dividend is payable on October 12, 2023 to shareholders of record at the close of business on September 26, 2023.
New Risk • Jul 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 18% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings are forecast to decline by an average of 50% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (18% net profit margin).
お知らせ • Jul 26SITE Centers Corp. (NYSE:SITC) acquired Briarcroft Center for $23.5 million.SITE Centers Corp. (NYSE:SITC) acquired Briarcroft Center for $23.5 million on May 8, 2023.SITE Centers Corp. (NYSE:SITC) completed the acquisition of Briarcroft Center on on May 8, 2023.
Reported Earnings • Jul 26Second quarter 2023 earnings released: EPS: US$0.012 (vs US$0.27 in 2Q 2022)Second quarter 2023 results: EPS: US$0.012 (down from US$0.27 in 2Q 2022). Revenue: US$138.2m (down 2.7% from 2Q 2022). Net income: US$2.56m (down 96% from 2Q 2022). Profit margin: 1.9% (down from 41% in 2Q 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 3.4% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.
お知らせ • Jul 26+ 1 more updateSITE Centers Corp. (NYSE:SITC) acquired Alpha Soda Center for $9.4 million.SITE Centers Corp. (NYSE:SITC) acquired Alpha Soda Center for $9.4 million on May 5, 2023.SITE Centers Corp. (NYSE:SITC) completed the acquisition of Alpha Soda Center on May 5, 2023.
お知らせ • Jul 12SITE Centers Corp. to Report Q2, 2023 Results on Jul 25, 2023SITE Centers Corp. announced that they will report Q2, 2023 results Pre-Market on Jul 25, 2023
Upcoming Dividend • Jun 06Upcoming dividend of US$0.13 per share at 4.1% yieldEligible shareholders must have bought the stock before 13 June 2023. Payment date: 06 July 2023. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.9%).
お知らせ • May 11SITE Centers Corp. Declares Common Stock Dividend for Second Quarter 2023, Payable on July 6, 2023SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the second quarter of 2023. The dividend is payable on July 6, 2023 to shareholders of record at the close of business on June 14, 2023.
Reported Earnings • Apr 26First quarter 2023 earnings released: FFO per share: US$0.3 (vs US$0.29 in 1Q 2022)First quarter 2023 results: FFO per share: US$0.3 (up from US$0.29 in 1Q 2022). Revenue: US$140.1m (up 4.1% from 1Q 2022). Funds from operations (FFO): US$61.9m (up 1.1% from 1Q 2022). FFO margin: 44% (down from 46% in 1Q 2022). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 2.6% decline forecast for the Retail REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Mar 21Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €13.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.5% over the last 3 years. Earnings per share has grown by 55%. For the next 3 years, revenue is forecast to grow by 2.2% per annum. Earnings is forecast to decline by 44% per annum over the same time period.
Upcoming Dividend • Mar 09Upcoming dividend of US$0.13 per share at 4.0% yieldEligible shareholders must have bought the stock before 16 March 2023. Payment date: 06 April 2023. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.0%).
お知らせ • Feb 15Centers Declares Common Stock Dividend for the First Quarter 2023, Payable on April 6, 2023SITE Centers Corp. declared a dividend on its common stock of $0.13 per share for the first quarter of 2023. The dividend is payable on April 6, 2023 to shareholders of record at the close of business on March 17, 2023.
Reported Earnings • Feb 09Full year 2022 earnings released: FFO per share: US$1.2 (vs US$1.17 in FY 2021)Full year 2022 results: FFO per share: US$1.2 (up from US$1.17 in FY 2021). Revenue: US$580.2m (flat on FY 2021). Funds from operations (FFO): US$251.0m (up 3.4% from FY 2021). FFO margin: 43% (up from 42% in FY 2021). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
お知らせ • Feb 09+ 2 more updatesAn unknown buyer acquired Presidential Commons for $7 million.An unknown buyer acquired Presidential Commons for $7 million on December 1, 2022.An unknown buyer completed the acquisition of Presidential Commons on December 1, 2022.
お知らせ • Jan 24SITE Centers Corp. to Report Q4, 2022 Results on Feb 08, 2023SITE Centers Corp. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 08, 2023
Recent Insider Transactions • Dec 30Executive VP & Chief Investment Officer recently sold €141k worth of stockOn the 27th of December, John Cattonar sold around 11k shares on-market at roughly €12.78 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €5.7m more than they bought in the last 12 months.
Upcoming Dividend • Dec 01Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 08 December 2022. Payment date: 06 January 2023. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (5.6%).
Board Change • Nov 16Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Director Barry Sholem was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 26Third quarter 2022 earnings released: FFO per share: US$0.3 (vs US$0.33 in 3Q 2021)Third quarter 2022 results: FFO per share: US$0.3 (down from US$0.33 in 3Q 2021). Funds from operations (FFO): US$61.6m (down 7.3% from 3Q 2021). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Upcoming Dividend • Sep 12Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 19 September 2022. Payment date: 07 October 2022. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.1%).
Reported Earnings • Jul 29Second quarter 2022 earnings released: EPS: US$0.27 (vs US$0.065 in 2Q 2021)Second quarter 2022 results: EPS: US$0.27 (up from US$0.065 in 2Q 2021). Revenue: US$140.7m (up 1.0% from 2Q 2021). Net income: US$58.3m (up 328% from 2Q 2021). Profit margin: 41% (up from 9.8% in 2Q 2021). Over the next year, revenue is expected to shrink by 9.4% compared to a 2.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
Upcoming Dividend • Jun 01Upcoming dividend of US$0.13 per shareEligible shareholders must have bought the stock before 08 June 2022. Payment date: 06 July 2022. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.4%).
Recent Insider Transactions • Apr 30President recently sold €4.9m worth of stockOn the 28th of April, David Lukes sold around 311k shares on-market at roughly €15.76 per share. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months.
Reported Earnings • Apr 27First quarter 2022 earnings released: EPS: US$0.053 (vs US$0.054 in 1Q 2021)First quarter 2022 results: EPS: US$0.053. Revenue: US$134.3m (up 1.4% from 1Q 2021). Net income: US$11.1m (up 3.6% from 1Q 2021). Profit margin: 8.3% (up from 8.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to decline by 10% while the industry in Germany is not expected to grow.
Board Change • Apr 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 3 highly experienced directors. Independent Director Dawn Sweeney was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
