SITE Centers's Preferred Shares Crosses Above 7% Yield Territory

In trading on Tuesday, shares of SITE Centers Corp's 6.375% Dep Shares Cl A Cumul Redeemable Preferred Shares (Symbol: SITC.PRA) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.5938), with shares changing hands as low as $22.70 on the day. This compares to an average yield of 8.50% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, SITC.PRA was trading at a 7.28% discount to its liquidation preference amount, versus the average discount of 21.02% in the "Real Estate" category.