Eastgroup Properties Inc. (EGP) PriceWatch Alert for February 9, 2010
Posted: Tuesday, February 09, 2010 8:24 AM EDT
By: Market Intelligence Center Staff
Eastgroup Properties Inc. (NYSE: EGP) closed yesterday at $35.80. So far the stock has hit a 52-week low of $20.12 and 52-week high of $41.86. Eastgroup Properties stock has been showing support around 35.39 and resistance in the 36.49 range. Technical indicators for the stock are Bearish and S&P gives EGP a neutral 3 STAR (out of 5) hold rating. EGP appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Jun '10 35 covered call for a net debit in the $33.35 area. That is also the break even stock price for this trade. This covered call has a 130 day duration, provides 6.84% downside protection and a 4.95% assigned return rate for a 13.89% annualized return rate (comparison purposes only). Eastgroup Properties has a current annual dividend yield of 5.78%. [ATU-Seven Summits Research]
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