Otto Alexander Amends SITE Centers Corp. Stake
Ticker: SITC · Form: SC 13D/A · Filed: Dec 3, 2024 · CIK: 894315
Sentiment: neutral
Topics: schedule-13d, ownership-change, real-estate
Related Tickers: SITC
TL;DR
Otto Alexander just updated his stake in SITE Centers Corp. (SITC) - watch this space.
AI Summary
On December 2, 2024, Otto Alexander filed an amendment (Amendment No. 29) to Schedule 13D for SITE Centers Corp. This filing indicates a change in beneficial ownership of the company's common shares. The filing was made by Otto Alexander, with correspondence directed to KG Cura Vermogensverwaltung G.m.b.H. in Hamburg, Germany.
Why It Matters
Changes in beneficial ownership filings like this can signal shifts in control or significant investment activity by major shareholders, potentially impacting the stock price and future corporate strategy.
Risk Assessment
Risk Level: medium — Schedule 13D filings indicate significant ownership stakes, and amendments can signal changes in strategy or potential activism, which carries inherent risk.
Key Players & Entities
- SITE Centers Corp. (company) — Subject Company
- Otto Alexander (person) — Filing Person
- KG Cura Vermogensverwaltung G.m.b.H. (company) — Mailing Address Recipient
- December 2, 2024 (date) — Date of Event
FAQ
What is the specific change in beneficial ownership reported in this Amendment No. 29?
The provided text does not specify the exact change in beneficial ownership, only that an amendment to Schedule 13D was filed by Otto Alexander for SITE Centers Corp. on December 2, 2024.
Who is Otto Alexander in relation to SITE Centers Corp.?
Otto Alexander is identified as the filing person for this Schedule 13D amendment, indicating he is a significant beneficial owner of SITE Centers Corp. common shares.
What is the significance of a Schedule 13D filing?
A Schedule 13D filing is required for any person or group who acquires beneficial ownership of more than five percent of a class of a company's equity securities, and it discloses information about the filer's background, purpose, and plans.
What does 'Amendment No. 29' imply?
Amendment No. 29 indicates that this is the 29th update to the original Schedule 13D filing, suggesting a history of changes in ownership or intentions by the filer.
Where is SITE Centers Corp. headquartered?
SITE Centers Corp. is headquartered at 3300 Enterprise Parkway, Beachwood, OH 44122.
Filing Stats: 1,523 words · 6 min read · ~5 pages · Grade level 5.7 · Accepted 2024-12-03 17:01:56
Key Financial Figures
- $0.10 — e of Issuer) Common Shares, par value $0.10 per share (Title of Class of Securiti
- $15.83 — prices for such transaction is between $15.83 and $16.165 (2) Reflects the weighte
- $16.165 — such transaction is between $15.83 and $16.165 (2) Reflects the weighted average sa
- $15.81 — prices for such transaction is between $15.81 and $15.98 (3) Reflects the weighted
- $15.98 — such transaction is between $15.81 and $15.98 (3) Reflects the weighted average sal
- $15.86 — prices for such transaction is between $15.86 and $16.29. (4) Reflects the weighte
- $16.29 — such transaction is between $15.86 and $16.29. (4) Reflects the weighted average s
- $16.17 — prices for such transaction is between $16.17 and $16.50. (5) Reflects the weighte
- $16.50 — such transaction is between $16.17 and $16.50. (5) Reflects the weighted average s
- $15.805 — prices for such transaction is between $15.805 and $16.21. (6) Reflects the weighte
- $16.21 — such transaction is between $15.805 and $16.21. (6) Reflects the weighted average s
- $15.75 — prices for such transaction is between $15.75 and $15.94. (7) Reflects the weighte
- $15.94 — such transaction is between $15.75 and $15.94. (7) Reflects the weighted average s
- $15.76 — prices for such transaction is between $15.76 and $15.84. (8) Reflects the weighte
- $15.84 — such transaction is between $15.76 and $15.84. (8) Reflects the weighted average s
Filing Documents
- d820069dsc13da.htm (SC 13D/A) — 53KB
- 0001193125-24-270004.txt ( ) — 54KB
is hereby amended to add the following
Item 5 is hereby amended to add the following: (a) Alexander Otto may be deemed to beneficially own 2,474,110 Common Shares, representing 4.7% of the Issuers outstanding Common Shares (based on 52,430,161 Common Shares outstanding as of October 25, 2024 as reported by the Issuer in the Form 10-Q filed with the Securities and Exchange Commission on October 30, 2024). (b) With respect to any rights or powers to vote, or to direct the vote of, or to dispose of, or direct the disposition of, the Common Shares referenced in paragraph 5(a), Mr. Otto has sole voting power and sole dispositive power with regard to 2,474,110 Common Shares. (c) Other than as set forth below, the Reporting Person has not effected any transactions in the Common Shares in the last sixty days. Date Transaction Amount Price 11/07/2024 Sale 123,774 $ 15.94143 (1) 11/08/2024 Sale 82,165 $ 15.88398 (2) 11/11/2024 Sale 112,406 $ 16.19035 (3) 11/12/2024 Sale 189,324 $ 16.25254 (4) 11/13/2024 Sale 145,155 $ 15.91650 (5) 11/14/2024 Sale 46,598 $ 15.78016 (6) 11/15/2024 Sale 4,000 $ 15.80575 (7) 11/18/2024 Sale 3,742 $ 15.75213 (8) 11/19/2024 Sale 70,669 $ 16.04734 (9) 11/20/2024 Sale 76,709 $ 16.02932 (10) 11/21/2024 Sale 62,333 $ 16.18959 (11) 11/22/2024 Sale 71,420 $ 16.09723 (12) 11/25/2024 Sale 93,166 $ 16.00371 (13) 11/26/2024 Sale 77,786 $ 15.78249 (14) 11/27/2024 Sale 100,355 $ 15.77496 (15) 11/29/2024 Sale 59,083 $ 15.61685 (16) 12/02/2024 Sale 173,874 $ 15.63495 (17) CUSIP No. 251591103 SCHEDULE 13D Page 4 of 6 Pages (1) Reflects the weighted average sale price. The range of prices for such transaction is between $15.83 and $16.165 (2) Reflects the weighted average sale price. The range of prices for such transaction is between $15.81 and $15.98 (3) Reflects the weighted average sale price. The range of prices for suc