SITE Centers Q3 Operating FFO Down

(RTTNews) - SITE Centers Corp. (SITC) Wednesday reported third-quarter net income of $320.2 million, or $6.07 per diluted share, compared to net income of $45.9 million or $0.87 per share in the year-ago period.

The increase year-over-year primarily was the result of higher gain on sale from dispositions and interest income.

Third-quarter operating funds from operations was $42.8 million or $0.81 per share, compared to $69.9 million or $1.33 per share in the year-ago period.

Revenues for the quarter dropped to $89.43 million, compared to $143.09 million last year.