Yahoo Finance Director Alexander Otto Sells 685,303 Shares of SITE Centers Corp (SITC)
On June 28, 2024, Alexander Otto, a Director at SITE Centers Corp (NYSE:SITC), executed a significant transaction by selling 685,303 shares of the company. The transaction was filed on the same day with the SEC. Following this sale, the insider now owns 16,582,983 shares of SITE Centers Corp.
SITE Centers Corp, a real estate investment trust (REIT), is primarily engaged in owning, managing, acquiring, and developing retail real estate properties in the United States.
Over the past year, Alexander Otto has sold a total of 3,031,771 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed over the past year, where there have been no insider buys and seven insider sells within the company.
Shares of SITE Centers Corp were trading at $14.33 on the day of the transaction. The company has a market cap of approximately $3.009 billion. The price-earnings ratio of SITE Centers Corp stands at 14.08, which is lower than the industry median of 17.025 and also below the companys historical median.
The stock's valuation, according to GF Value, is set at $12.87, indicating that with a current price of $14.33, SITE Centers Corp is modestly overvalued with a price-to-GF-Value ratio of 1.11.
The GF Value is calculated considering historical trading multiples such as 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 might be of interest to current and potential investors as they evaluate their positions in SITE Centers Corp, considering the insider trends and the company's current valuation metrics.
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.
This article first appeared on GuruFocus.
