Eastgroup Properties Inc. (EGP) 11/3/09 PriceWatch Alert Could Hit 14.87% Return
Posted: Tuesday, November 03, 2009 8:42 AM EDT
By: Market Intelligence Center Staff
Eastgroup Properties Inc. (NYSE: EGP) closed yesterday at $37.25. 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 35.53 and resistance in the 39.23 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 Mar '10 35 covered call (EGP CG) for a net debit in the $33.15 area. That is also the break even stock price for this trade. This covered call has a 137 day duration, provides 11.01% downside protection and a 5.58% assigned return rate for a 14.87% annualized return rate (comparison purposes only). Eastgroup Properties has a current annual dividend yield of 5.62%. [ATU-Seven Summits Research]
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