EGP Stock Summary and Trading Ideas (Eastgroup Props | NYSE:EGP)

EastGroup Properties Inc is an equity real estate investment trust. It is engaged in the development, acquisition, and operation of industrial properties in Sunbelt markets throughout the United States, predominantly in the states of Florida, Texas, Arizona, California, and North Carolina. The company manages a portfolio of industrial properties. The vast majority of these properties are multi-tenant business distribution buildings that provide large warehousing and office space for customers. The company derives its revenue in the form of rental income.

Eastgroup Props trades on the NYSE stock market under the symbol EGP.

As of April 26, 2024, EGP stock price climbed to $156.33 with 128,218 million shares trading.

EGP has a beta of 1.23, meaning it tends to be more sensitive to market movements. EGP has a correlation of 0.43 to the broad based SPY ETF.

EGP has a market cap of $7.53 billion. This is considered a Mid Cap stock.

Last quarter Eastgroup Props reported $154 million in Revenue and $1.98 earnings per share. This beat revenue expectation by $2 million and missed earnings estimates by -$.03.

In the last 3 years, EGP stock traded as high as $229.84 and as low as $137.47.

The top ETF exchange traded funds that EGP belongs to (by Net Assets): VNQ, VTI, IJH, VB, VBR.

EGP has underperformed the market in the last year with a price return of -1.7% while the SPY ETF gained +27.0%. EGP has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -11.7% and -9.6%, respectively, while the SPY returned +4.6% and -1.7%, respectively.

EGP support price is $153.49 and resistance is $157.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EGP stock will trade within this expected range on the day.