Eastgroup Properties, Inc.’s filing revealed that 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 $17.07 million.
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 $2.88 million.
JP Morgan initiated its Eastgroup Properties, Inc. [EGP] rating to a Neutral in a research note published on April 11, 2024; the price target was $190. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in late March with a ‘”an Equal weight”‘ rating. Mizuho also remained covering EGP and has decreased its forecast on December 05, 2023 with a “Neutral” recommendation from previously “Buy” rating. Raymond James revised its rating on October 27, 2023. It rated EGP as “an Outperform” which previously was an “a Mkt perform”.
Price Performance Review of EGP
On Tuesday, Eastgroup Properties, Inc. [NYSE:EGP] saw its stock fall -1.22% to $166.34. Over the last five days, the stock has lost -6.59%. Eastgroup Properties, Inc. shares have fallen nearly -9.37% since the year began. Nevertheless, the stocks have risen 4.58% 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 04/16/24. SMA at 50 days reached $178.57, while 200 days put it at $175.85. A total of 0.26 million shares were traded, compared to the trading of 0.25 million shares in the previous session.
Levels Of Support And Resistance For EGP Stock
The 24-hour chart illustrates a support level at 165.53, which if violated will result in even more drops to 164.71. On the upside, there is a resistance level at 167.64. A further resistance level may holdings at 168.93. The Relative Strength Index (RSI) on the 14-day chart is 31.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.38, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.71%. Stochastics %K at 3.43% indicates the stock is a buying.
The most recent change occurred on October 03, 2023 when Wedbush began covering the stock and recommended ‘”a Neutral”‘ rating along with a $175 price target.
