There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 8, EastGroup Properties Inc's Director, Fredric H. Gould, invested $240,160.80 into 3,000 shares of EGP, for a cost per share of $80.05. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of EastGroup Properties Inc (Symbol: EGP) and achieve a cost basis even cheaper than Gould, with shares changing hands as low as $80.00 per share. EastGroup Properties Inc shares are currently trading off about 0.1% on the day. The chart below shows the one year performance of EGP shares, versus its 200 day moving average:
Looking at the chart above, EGP's low point in its 52 week range is $69.90 per share, with $95.03 as the 52 week high point - that compares with a last trade of $80.01. By comparison, below is a table showing the prices at which EGP insider buying was recorded over the last six months:
Fredric H. Gould
The current annualized dividend paid by EastGroup Properties Inc is $2.56/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 12/14/2017. Below is a long-term dividend history chart for EGP, which can be of good help in judging whether the most recent dividend with approx. 3.2% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, EGP makes up 2.73% of the PowerShares DWA Financial Momentum Portfolio ETF (Symbol: PFI) which is trading relatively unchanged on the day Tuesday.