GuruFocus - On June 17, 2024, Director Alexander Otto executed a significant transaction by selling 261,646 shares of SITE Centers Corp (NYSE:SITC). The shares were sold at a price of $14.54 each, as detailed in the SEC Filing. Following this transaction, the insider now owns 18,627,298 shares of the company.
SITE Centers Corp, a real estate investment trust (REIT), is primarily engaged in the business of owning, managing, acquiring, developing, and redesigning shopping centers in suburban growth markets of the United States.
Over the past year, Alexander Otto has sold a total of 987,456 shares and has not made any purchases of the company's stock. This recent sale continues a trend observed over the past year, where there have been three insider sells and no insider buys.
As of the transaction date, SITE Centers Corp had a market cap of approximately $3.009 billion. The stock's price-earnings ratio stood at 14.08, which is below both the industry median of 16.59 and the company's historical median.
The GF Value of SITE Centers Corp is calculated at $12.95, suggesting that with a trading price of $14.54, the stock is modestly overvalued with a price-to-GF-Value ratio of 1.12.
The GF Value is derived from 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 supplemented by future business performance estimates from Morningstar analysts.
This insider sell event and the current valuation metrics provide investors with updated data points to consider in their analysis of SITE Centers Corp's stock performance and market position.
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.
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