Insider Selling: Bruce Corkern Unloads 1,257 Shares of EastGroup Properties Stock (EGP)
EastGroup Properties (NYSE:EGP) SVP Bruce Corkern sold 1,257 shares of the stock on the open market in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $57.80, for a total value of $72,654.60. Following the completion of the sale, the senior vice president now directly owns 47,729 shares in the company, valued at approximately $2,758,736. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of EastGroup Properties (NYSE:EGP) traded down 0.35% during mid-day trading on Thursday, hitting $57.73. The stock had a trading volume of 181,368 shares. EastGroup Properties has a 52 week low of $52.47 and a 52 week high of $66.99. The stock has a 50-day moving average of $59.28 and a 200-day moving average of $59.65. The company has a market cap of $1.751 billion and a P/E ratio of 49.05.
EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.83 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.82 by $0.01. The company had revenue of $51.25 million for the quarter, compared to the consensus estimate of $50.00 million. During the same quarter last year, the company posted $0.76 earnings per share. EastGroup Properties’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that EastGroup Properties will post $3.23 EPS for the current fiscal year.
Separately, analysts at Raymond James raised their price target on shares of EastGroup Properties from $68.00 to $71.00 in a research note to investors on Monday, October 21st. They now have an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $63.00.
EastGroup Properties, Inc (NYSE:EGP) is an equity real estate investment trust (REIT).
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