On June 26, 2024, Alexander Otto, a Director at SITE Centers Corp (SITC, Financial), executed a significant sale of 459,240 shares of the company. According to the SEC Filing, the transaction occurred at a stock price of $14.14 per share, totaling approximately $6,493,474. The insider now owns 17,268,286 shares of SITE Centers Corp.
SITE Centers Corp is a publicly traded real estate investment trust (REIT) that focuses on owning, managing, and developing shopping centers in high population areas primarily in the United States.
Over the past year, Alexander Otto has sold a total of 2,346,468 shares and has not made any purchases of the company's stock. This recent transaction follows a pattern of sales by the insider, with no recorded insider buys in the past year for SITE Centers Corp. In total, there have been 6 insider sells and 0 insider buys within the company over the same timeframe.
The shares of SITE Centers Corp were trading at $14.14 on the day of the sale. This pricing gives the company a market cap of approximately $2.998 billion. The price-earnings ratio of the company stands at 14.03, which is lower than the industry median of 17.01 and also below the company’s historical median.
According to the GF Value, the intrinsic value of SITE Centers Corp is estimated at $12.89 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.1.
The GF Value is calculated based on historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business results.
This insider sale might be of interest to current and potential investors, as insider transactions can provide insights into the company's valuation and insider perspectives on the stock's future performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
