Public Employees Retirement System of Ohio raised its stake in shares of Eastgroup Properties Inc (NYSE:EGP) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,694 shares of the real estate investment trust’s stock after buying an additional 1,132 shares during the period. Public Employees Retirement System of Ohio owned about 0.12% of Eastgroup Properties worth $3,498,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of EGP. Renaissance Technologies LLC increased its stake in Eastgroup Properties by 160.0% in the 1st quarter. Renaissance Technologies LLC now owns 7,800 shares of the real estate investment trust’s stock worth $574,000 after buying an additional 4,800 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Eastgroup Properties by 11.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 352,151 shares of the real estate investment trust’s stock valued at $29,511,000 after purchasing an additional 36,154 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Eastgroup Properties by 116.8% during the 2nd quarter. SG Americas Securities LLC now owns 4,871 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 2,624 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Eastgroup Properties by 8.8% during the 2nd quarter. Legal & General Group Plc now owns 138,228 shares of the real estate investment trust’s stock valued at $11,586,000 after purchasing an additional 11,149 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Eastgroup Properties by 13.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,923 shares of the real estate investment trust’s stock valued at $1,753,000 after purchasing an additional 2,516 shares during the last quarter. Hedge funds and other institutional investors own 96.08% of the company’s stock.
Several research analysts have commented on the stock. Cantor Fitzgerald reissued a “hold” rating and set a $79.00 price objective on shares of Eastgroup Properties in a report on Friday, October 20th. Mizuho downgraded shares of Eastgroup Properties from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $82.00 price target on shares of Eastgroup Properties in a report on Thursday, December 14th. KeyCorp reaffirmed a “hold” rating on shares of Eastgroup Properties in a report on Sunday, September 24th. Finally, DA Davidson set a $100.00 price objective on shares of Eastgroup Properties and gave the stock a “hold” rating in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $88.33.
Shares of Eastgroup Properties Inc (NYSE EGP) opened at $83.85 on Friday. Eastgroup Properties Inc has a one year low of $67.69 and a one year high of $95.03. The firm has a market cap of $2,870.00, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 4.50 and a beta of 0.99.
Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.61. Eastgroup Properties had a net margin of 30.03% and a return on equity of 11.70%. The business had revenue of $68.75 million during the quarter, compared to the consensus estimate of $68.74 million. During the same period in the previous year, the firm posted $1.04 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts forecast that Eastgroup Properties Inc will post 4.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.56 dividend on an annualized basis and a yield of 3.05%. Eastgroup Properties’s dividend payout ratio is presently 107.11%.
In other Eastgroup Properties news, insider Bruce Corkern sold 3,586 shares of Eastgroup Properties stock in a transaction on Friday, December 8th. The shares were sold at an average price of $91.75, for a total value of $329,015.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David H. Hoster II sold 12,250 shares of Eastgroup Properties stock in a transaction on Monday, December 4th. The shares were sold at an average price of $94.10, for a total transaction of $1,152,725.00. Following the completion of the transaction, the director now directly owns 173,880 shares of the company’s stock, valued at approximately $16,362,108. The disclosure for this sale can be found here. Insiders sold 22,668 shares of company stock valued at $2,105,037 in the last ninety days. 2.90% of the stock is owned by corporate insiders.
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Eastgroup Properties Profile
EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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