Excel Trust Inc (NYSE:EXL), watched as a top level insider executed a transaction that began last week and was officially filed today, September 8th, resulting in the rise of his profile with the company. Chairman of the Board and Chief Executive Officer Gary B. Sabin acquired 2,000 shares of common stock at an average price of $12.77 per share. This is not his first move of this type, as Sabin has Purchased over 1,000 shares over the past two weeks. Moreover, following this transaction, Sabin now has a total of 456,054 shares directly involved with the company, while having 595,376 shares indirectly invested.
A $786.56 million market cap company, Excel Trust Inc (NYSE:EXL), is a vertically integrated, self-administered, self-managed real estate investment trust (REIT). In addition, there are multiple hedge funds involved with the company, including Millennium Management, the hedge fund controlled by billionaire Israel Englander. After raising its activity by 5% over the course of the last quarter, the fund now holds about 1.3 million shares worth approximately $22.3 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.