GuruFocus - On June 13, 2024, Director Alexander Otto executed a significant transaction by selling 424,956 shares of SITE Centers Corp (NYSE:SITC). The shares were sold at a price of $14.67 each, as detailed in the SEC Filing. Following this transaction, the insider now owns 18,888,944 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 725,810 shares and has not purchased any shares. This recent sale is part of a broader trend observed within the company, where there have been 2 insider sells and no insider buys over the past year.
As of the transaction date, SITE Centers Corp had a market cap of approximately $3.05 billion. The stock's price-earnings ratio stood at 14.27, which is lower than the industry median of 16.52 and also below the companys historical median.
The GF Value of SITE Centers Corp is calculated at $12.98, indicating that with a trading price of $14.67, the stock is modestly overvalued with a price-to-GF-Value ratio of 1.13.
The GF Value is determined by considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sell event provides investors with a snapshot of recent insider activity at SITE Centers Corp, reflecting a possible shift in insider sentiment or personal portfolio decisions by the insider.
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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