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Shopping center landlord DDR Corp. announced plans to change its name to Site Centers Corp.
The Beachwood, Ohio–based REIT will also change the ticker symbol of its common and preferred stock on the New York Stock Exchange to SITC, from DDR, effective with the opening of trading on Friday, Oct. 12.
"Our new brand reflects our mission to drive sustainable growth by owning and investing in high-quality communities and locations," said David R. Lukes, the firm's president and CEO, in a press release. "We are focused on maximizing the value of our centers by utilizing our company’s creativity, vision and operating capabilities to generate compelling returns."
Site Centers will remain an Ohio-based corporation. No action is needed from current shareholders with regard to the change of name or ticker symbol.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
