SITE Centers: Holding Steady

Oct. 22, 2023 9:00 AM ETSITE Centers Corp. (SITC) StockVNQ, SITC1 Comment

Summary

  • Strip Center REITs have slightly outperformed the average REIT YTD, despite a challenging year for REITs as a whole.
  • Strip Center REITs benefit from near-zero new development of shopping centers, high occupancy rates, and double-digit rent growth spreads.
  • SITC has a strong balance sheet, and is enjoying double-digit leasing spreads, but pays a below-average dividend and has significant indebtedness problems.
  • This idea was discussed in more depth with members of my private investing community, Hoya Capital Income Builder. Learn More »

Scenery of shopping district

MasaoTaira

Strip Center REITs (also called Shopping Center REITs) have slightly outperformed the average REIT YTD (year to date), returning an average of (-7.49)%, compared to the Equity REIT Index return of (-9.48)%. It has not been a good year for REITs as a whole, as all of

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This article was written by

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Philip Eric Jones is a financial writer, educator, artist, and inspirational speaker. He writes about investing for retirement with a focus on Growth stocks and REITs.

He is a contributor to the investing group iREIT®+HOYA Capital. The service features a team of analysts focusing on real income-producing asset classes that offer the opportunity for reliable income, diversification, and inflation hedging. Learn More.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of VNQ either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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