On August 1, 2024, Director Alexander Otto executed a significant transaction by selling 718,229 shares of SITE Centers Corp (SITC, Financial). The shares were sold at a price of $15.54 each, as detailed in the SEC Filing. Following this transaction, the insider now owns 15,864,754 shares of the company.
SITE Centers Corp is a real estate investment trust (REIT) primarily engaged in the ownership, management, acquisition, development, and redevelopment of high-quality shopping centers located in densely populated areas.
Over the past year, Alexander Otto has sold a total of 3,750,000 shares and has not purchased any shares. This recent sale is part of a broader trend observed within the company, where there have been 8 insider sells and no insider buys over the past year.
The stock of SITE Centers Corp was trading at $15.54 on the day of the sale, giving the company a market cap of approximately $3.23 billion. The price-earnings ratio of the company stands at 7.26, which is lower than both the industry median of 17.18 and the company's historical median.
According to the GF Value, the intrinsic value estimate for SITE Centers Corp is $12.54 per share, making the stock modestly overvalued with a price-to-GF-Value ratio of 1.24.
This valuation is based on historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The insider's recent transaction could be of interest to current and potential investors, providing insights into insider confidence and valuation metrics of SITE Centers Corp.
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.
