On August 21, 2024, Conor Fennerty, the Executive Vice President, Chief Financial Officer & Treasurer of SITE Centers Corp (SITC, Financial), sold 5,850 shares of the company. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 41,709 shares of SITE Centers Corp.
SITE Centers Corp is a real estate investment trust (REIT) that focuses on owning, managing, and developing shopping centers in densely populated suburban markets.
This sale is part of a broader trend observed over the past year, where there have been no insider purchases but nine insider sales at SITE Centers Corp. Over the same period, Conor Fennerty has sold a total of 5,850 shares and has not made any purchases.
On the date of the sale, shares of SITE Centers Corp were trading at $60.54, giving the company a market cap of approximately $3.21 billion. The price-earnings ratio of the stock stood at 7.22, which is lower than both the industry median of 16.865 and the company's historical median.
The stock's GF Value, an intrinsic value estimate calculated by GuruFocus, is $49.23. With the current price of $60.54, SITE Centers Corp has a price-to-GF-Value ratio of 1.23, indicating that the stock is Modestly Overvalued.
The GF Value is determined by considering historical trading multiples like the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company’s past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider may be of interest to current and potential investors, providing insight into insider confidence and stock valuation perceptions at 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.
