On September 12, 2024, Brent Wood, Executive Vice President & Chief Financial Officer of EastGroup Properties Inc (EGP, Financial), sold 1,670 shares of the company. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 110,926 shares of EastGroup Properties Inc.
EastGroup Properties Inc, a company listed on the stock exchange under the symbol EGP, is engaged in 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, Brent Wood has sold a total of 4,170 shares of the company and has not made any purchases. The insider transaction history for EastGroup Properties Inc shows a trend with 0 insider buys and 4 insider sells over the same timeframe.
On the day of the sale, shares of EastGroup Properties Inc were trading at $184.42. This pricing gives the company a market cap of approximately $9.27 billion. The price-earnings ratio of the stock stands at 39.80, which is significantly higher than the industry median of 17.05 and also above the historical median for the company.
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 based on past returns and growth, and future business performance estimates from Morningstar analysts.
This recent insider sale might interest investors tracking insider behaviors as an indicator of the company’s future performance and valuation alignment.
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.
