On June 17, 2024, Director Alexander Otto made a significant move by selling 261,646 shares of SITE Centers Corp (NYSE:SITC) at a price of $14.54 per share, according to the SEC Filing. This transaction leaves the insider with ownership of 18,627,298 shares of the company.
SITE Centers Corp is a real estate investment trust (REIT) that focuses on owning, managing, acquiring, developing, and redeveloping shopping centers in suburban growth markets in the United States. Alexander Otto has sold a total of 987,456 shares over the past year, without making any purchases of the company’s stock. This recent sale is part of a trend observed over the past year, with three insider sells and no insider buys.
At the time of the transaction, SITE Centers Corp had a market capitalization of around $3.009 billion. The stock’s price-earnings ratio was 14.08, lower than 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, indicating that the stock is slightly overvalued with a price-to-GF-Value ratio of 1.12.
The GF Value is determined based on historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor and future business performance estimates from Morningstar analysts.
This insider sell event and the current valuation metrics offer investors updated information to consider when analyzing SITE Centers Corp’s stock performance and market position. It is important to note that this article, provided by GuruFocus, offers general insights and not personalized financial advice. The analysis is based on historical data and analyst projections, using an unbiased methodology and does not provide specific investment recommendations.
GuruFocus does not hold any positions in the mentioned stocks. It is crucial for investors to conduct their research and consider individual investment objectives and financial circumstances. The aim of this analysis is to offer long-term, data-driven insights. Keep in mind that the analysis may not include the most recent company announcements or qualitative information.
