Eastgroup Properties Inc (EGP) Files Form 4 Insider Selling : David H Ii Hoster Sells 750 Shares

Eastgroup Properties Inc (EGP): David H Ii Hoster , director of Eastgroup Properties Inc sold 750 shares on May 4, 2016. The Insider selling transaction was reported by the company on May 5, 2016 to the Securities and Exchange Commission. The shares were sold at $62.04 per share for a total value of $46,533.75 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 27, 2016, H Eric Jr Bolton (director) purchased 1,700 shares at $59.95 per share price.On Feb 18, 2016, Fredric H Gould (director) purchased 5,000 shares at $51.15 per share price.Also, On Jun 25, 2015, H C Jr Bailey (director) sold 1,800 shares at $57.89 per share price.On Feb 24, 2015, David H Ii Hoster (President and CEO) sold 6,400 shares at $63.45 per share price.

Eastgroup Properties Inc: On Wednesday, May 4, 2016 heightened volatility was witnessed in Eastgroup Properties Inc which led to swings in the share price. The shares opened for trading at $60 and hit $62.28 on the upside , eventually ending the session at $62.06, with a gain of 3.00% or 1.81 points. The heightened volatility saw the trading volume jump to 2,06,961 shares. The 52-week high of the share price is $62.28 and the company has a market cap of $2,013 M . The 52-week low of the share price is at $49.31.

Eastgroup Properties Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Eastgroup Properties Inc is Upgraded by Stifel to Buy and the brokerage firm has set the Price Target at $68. Earlier the firm had a rating of Hold on the company shares. The Rating was issued on Apr 22, 2016.Eastgroup Properties Inc is Reiterated by DA Davidson to Neutral and the brokerage firm has raised the Price Target to $ 65 from a previous price target of $58 .The Rating was issued on Apr 21, 2016.

EastGroup Properties Inc. (EastGroup) is an equity real estate investment trust (REIT). The Company is focused on the development acquisition and operation of industrial properties in Sunbelt markets throughout the United States. EastGroup holds its properties as long-term investments. The Company owns approximately 307 industrial properties and one office building. These properties are located in the Sunbelt states of Florida Texas Arizona California and North Carolina. EastGroup’s portfolio is approximately 96.3% leased and 96.0% occupied. The Company has developed approximately 37% of its total portfolio (on a square foot basis) including real estate properties and development properties in lease-up and under construction. The Company’s focus is the ownership of business distribution space (80% of the total portfolio) with the remainder in bulk distribution space (16%) and business service space (4%).

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