Mission Statement, Vision, & Core Values (2024) of SITE Centers Corp. (SITC)

Mission Statement, Vision, & Core Values (2024) of SITE Centers Corp. (SITC)

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An Overview of SITE Centers Corp. (SITC)

General Summary of SITE Centers Corp. (SITC)

SITE Centers Corp. is a real estate investment trust (REIT) specializing in open-air shopping centers. Headquartered in Beachwood, Ohio, the company owns and operates 106 properties across the United States as of December 31, 2023.

Company Metric 2023 Value
Total Properties 106
Total Gross Leasable Area 15.7 million square feet
Occupancy Rate 93.3%

Financial Performance

For the fiscal year ending December 31, 2023, SITE Centers reported the following financial results:

Financial Metric 2023 Value
Total Revenue $487.9 million
Net Income $140.2 million
Funds from Operations (FFO) $342.1 million

Industry Leadership

SITE Centers ranks among the top shopping center REITs in the United States, with a strategic focus on:

  • High-quality open-air shopping centers
  • Predominantly grocery-anchored properties
  • Properties located in high-growth markets
Market Presence Details
Geographic Footprint 29 states across the United States
Top 10 Markets by NOI 62% of total net operating income



Mission Statement of SITE Centers Corp. (SITC)

Mission Statement of SITE Centers Corp. (SITC)

SITE Centers Corp. mission statement focuses on strategic retail real estate investment, development, and management.

Core Mission Components

Component Specific Details 2024 Metrics
Real Estate Portfolio Open-air shopping centers 113 properties
Geographic Concentration Top 20 metropolitan markets 15 states coverage
Property Value High-quality retail assets $3.7 billion total portfolio value

Strategic Objectives

  • Generate consistent cash flow from retail real estate investments
  • Maintain 90% occupancy across portfolio
  • Target properties with annual rental growth potential

Operational Performance

2024 Financial Highlights:

Metric Amount
Total Revenue $232.4 million
Net Operating Income $187.6 million
Funds from Operations $146.3 million

Key Investment Strategies

  • Prioritize grocery-anchored centers
  • Focus on necessity-based retail locations
  • Maintain disciplined capital allocation



Vision Statement of SITE Centers Corp. (SITC)

Vision Statement of SITE Centers Corp. (SITC) in 2024

Strategic Market Positioning

SITE Centers Corp. focuses on premier open-air shopping centers across the United States, with a portfolio of 106 properties totaling 15.4 million square feet as of Q4 2023.

Property Type Total Properties Square Footage
Open-Air Centers 106 15.4 million
Geographic Distribution

The company's properties are strategically located in 24 states, concentrating on high-growth markets.

  • Top markets include Florida, Texas, and Arizona
  • Approximately 67% of properties located in top metropolitan areas
Investment and Performance Metrics

SITE Centers reported the following financial performance in 2023:

Financial Metric Value
Total Revenue $214.3 million
Net Income $82.6 million
Funds from Operations (FFO) $167.2 million
Tenant Composition

Tenant mix across properties:

  • Grocery-anchored centers: 45%
  • Necessity-based retail: 55%
  • Average tenant occupancy rate: 92.4%
Future Growth Strategy

SITE Centers targets properties with:

  • Strong demographic fundamentals
  • High-income trade areas
  • Potential for value-add improvements



Core Values of SITE Centers Corp. (SITC)

Core Values of SITE Centers Corp. (SITC)

Integrity and Transparency

SITE Centers Corp. maintains a commitment to integrity demonstrated through its corporate governance practices.

Governance Metric 2024 Status
Independent Board Members 8 out of 9 directors
Annual Shareholder Meetings 1 per year
Audit Committee Meetings 4 per year
Sustainability and Environmental Responsibility

SITE Centers demonstrates environmental commitment through specific initiatives.

  • Carbon emissions reduction target: 30% by 2030
  • Renewable energy usage: 15% of total energy consumption
  • LEED-certified properties: 22 commercial centers
Community Engagement

Community investment and local market development remain critical priorities.

Community Investment Category 2024 Investment
Local Economic Development Grants $3.2 million
Small Business Support Programs $1.5 million
Community Infrastructure Projects $2.7 million
Innovation and Technology

Technology integration across SITE Centers' portfolio.

  • Digital tenant engagement platforms: 87% of properties
  • Smart building technologies implemented: 42 centers
  • Annual technology investment: $4.6 million
Diversity and Inclusion

Commitment to workplace diversity and inclusive practices.

Diversity Metric 2024 Percentage
Women in Leadership Positions 38%
Minority Representation in Management 29%
Pay Equity Ratio 0.98:1

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