On February 13, 2024, Brent Wood, the Executive Vice President & CFO of EastGroup Properties Inc (NYSE:EGP), sold 2,500 shares of the company's stock, according to a recent SEC Filing. The transaction was executed at a price of $182.74 per share, resulting in a total sale amount of $456,850.
EastGroup Properties Inc is a real estate investment trust (REIT) that focuses on the development, acquisition, and operation of industrial properties in major Sunbelt markets throughout the United States. The company's portfolio primarily consists of warehouse and distribution facilities.
Over the past year, the insider has sold a total of 2,500 shares and has not made any purchases of the company's stock. The recent sale by the insider is part of a trend observed over the last year, where there have been no insider buys and four insider sells for EastGroup Properties Inc.
On the valuation front, EastGroup Properties Inc's shares were trading at $182.74 on the day of the insider's sale, giving the company a market capitalization of $8.751 billion. The price-earnings ratio stood at 41.60, which is above the industry median of 18.07 but below the company's historical median price-earnings ratio.
According to the GF Value, with a share price of $182.74 and a GuruFocus Value of $196.09, EastGroup Properties Inc has a price-to-GF-Value ratio of 0.93, indicating that the stock is Fairly Valued.
The GF Value is determined by considering historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
The insider's recent sale may provide investors with an insight into the insider's perspective on the stock's current valuation and future prospects.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
