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Another name that insiders find attractive here is real estate operations player
Equity One(EQY - Get Report), a real estate investment trust, which owns, manages, acquires, develops and redevelops shopping centers located in supply constrained suburban and urban communities. Insiders are loading up on this stock into some decent strength, since shares are up over 25% so far in 2012.
Equity One has a market cap of $2.44 billion and an enterprise value of $3.85 billion. This stock trades at a premium valuation, with a trailing price-to-earnings of 206.50 and a forward price-to-earnings of 18.34. Its estimated growth rate for this year is -1.8%, and for next year it's pegged at 5.5%. This is not a cash-rich company, since the total cash position on its balance sheet is $31.28 million and its total debt is $1.42 billion.
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A beneficial owner and chairman of the board just
bought 500,000 shares, or $10.6 million worth of stock, at $21.20 per share.
From a technical perspective, EQY is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the past six months, with shares soaring from a low of $18.20 to a recent high of $22.16 a share. During that uptrend, shares of EQY have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed EQY within range of triggering a near-term breakout trade.
If you're in the bull camp on EQY, then I would look for long-biased trades as long as this stock is trending above some near-term support at $21.05 a share, and then once it breaks out above some resistance at $22.16 a share with high volume. Look for a sustained move or close above $22.16 with volume that's near or above its three-month average action of 530,234 shares. If that breakout triggers soon, then look for EQY to head north of $25 a share. Keep in mind that one can buy EQY off weakness and anticipate that move as long as $21.05 holds as support.
On the flipside, I would avoid EQY or look for short-biased trades if it fails to trigger that breakout soon, and then drops below $21.05 a share with heavy volume. A high-volume move below $21.05 could setup EQY to trend back below $20 a share.