It was just five years ago or so that Site Centers (NYSE: SITC), then known as DDR Corp, spun off a collection of properties that it basically didn't want to own anymore. Today, it is again looking to do a corporate action, this time splitting the business between strip malls with anchor tenants (usually a grocery store) and those without.

You can't control spinoffs, but you can control what you do about them, so it's time for Site Centers investors to think through what's happening here.

Back in 2018, when Site Centers was still known as DDR, it spun off a collection of lower-quality assets into a real estate investment trust (REIT) named Retail Value. That entity's efforts since the spinoff have been, effectively, around selling the portfolio. It completed that task earlier in 2023, with a final liquidating dividend paid to shareholders.

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Source Fool.com