In a filing, Eastgroup Properties, Inc. revealed its Executive Vice President & CFO WOOD BRENT unloaded Company’s shares for reported $0.46 million on Feb 13 ’24. In the deal valued at $182.74 per share,2,500 shares were sold. As a result of this transaction, WOOD BRENT now holds 102,617 shares worth roughly $18.05 million.
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Then, COLEMAN JOHN F sold 1,000 shares, generating $173,052 in total proceeds. Upon selling the shares at $173.05, the Executive Vice President now owns 90,305 shares.
Before that, Dunbar Richard Reid sold 1,600 shares. Eastgroup Properties, Inc. shares valued at $290,000 were divested by the Senior Vice President at a price of $181.25 per share. As a result of the transaction, Dunbar Richard Reid now holds 17,288 shares, worth roughly $3.04 million.
Mizuho downgraded its Eastgroup Properties, Inc. [EGP] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in late October from “a Mkt perform” to “an Outperform”. Wedbush began covering EGP with “Neutral” recommendation on October 03, 2023. Citigroup revised its rating on June 13, 2023. It rated EGP as “a Buy” which previously was an “a Neutral”.
Price Performance Review of EGP
On Tuesday, Eastgroup Properties, Inc. [NYSE:EGP] saw its stock fall -1.81% to $175.86. Over the last five days, the stock has gained 0.08%. Eastgroup Properties, Inc. shares have fallen nearly -4.18% since the year began. Nevertheless, the stocks have risen 11.23% over the past one year. While a 52-week high of $188.85 was reached on 02/12/24, a 52-week low of $154.75 was recorded on 03/01/24. SMA at 50 days reached $180.20, while 200 days put it at $175.67. A total of 0.45 million shares were traded, compared to the trading of 0.23 million shares in the previous session.
Levels Of Support And Resistance For EGP Stock
The 24-hour chart illustrates a support level at 174.51, which if violated will result in even more drops to 173.17. On the upside, there is a resistance level at 178.45. A further resistance level may holdings at 181.05. The Relative Strength Index (RSI) on the 14-day chart is 41.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.91%. Stochastics %K at 49.52% indicates the stock is a holding.
How much short interest is there in Eastgroup Properties, Inc.?
A steep rise in short interest was recorded in Eastgroup Properties, Inc. stocks on Feb 29, 2024, growing by 0.21 million shares to a total of 0.76 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 0.55 million shares. There was a rise of 28.23%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.11% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.64.
