On September 12, 2024, Richard Dunbar, Senior Vice President of EastGroup Properties Inc (EGP, Financial), sold 1,650 shares of the company. The transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 19,907 shares of EastGroup Properties Inc.
EastGroup Properties Inc is a real estate investment trust (REIT) focused on the development, acquisition, and operation of industrial properties in major sunbelt markets throughout the United States with an emphasis on the states of Florida, Texas, Arizona, California, and North Carolina.
Over the past year, Richard Dunbar has engaged in the sale of 1,650 shares and has not purchased any shares of the company. The insider transaction history for EastGroup Properties Inc shows a total of 4 insider sells and 0 insider buys over the same timeframe.
On the day of the sale, shares of EastGroup Properties Inc were trading at $183.99. This pricing gives the company a market cap of approximately $9.27 billion. The price-earnings ratio of the company stands at 39.80, which is significantly higher than the industry median of 17.05.
According to the GF Value, the intrinsic value estimate for EastGroup Properties Inc is $192.37 per share, making the stock Fairly Valued with a price-to-GF-Value ratio of 0.96. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from analysts.
This insider sale comes at a time when the stock is perceived as fairly valued according to the GF Value, amidst a broader context of higher valuation multiples compared to the industry.
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.
