2,798 Shares in EastGroup Properties, Inc. (EGP) Acquired by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the first quarter, according to its most recent filing with the SEC. The fund purchased 2,798 shares of the real estate investment trust’s stock, valued at approximately $206,000.

Several other large investors have also made changes to their positions in the company. Glen Harbor Capital Management LLC boosted its stake in EastGroup Properties by 5.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,760 shares of the real estate investment trust’s stock worth $129,000 after buying an additional 88 shares during the last quarter. Elkfork Partners LLC purchased a new stake in EastGroup Properties during the fourth quarter worth approximately $157,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in EastGroup Properties by 8.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,220 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 168 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in EastGroup Properties by 31.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,500 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 600 shares during the last quarter. Finally, Heritage Trust Co purchased a new stake in EastGroup Properties during the first quarter worth approximately $184,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

EastGroup Properties, Inc. (EGP) opened at 84.51 on Thursday. EastGroup Properties, Inc. has a 12-month low of $63.99 and a 12-month high of $87.40. The stock has a market cap of $2.85 billion, a PE ratio of 32.10 and a beta of 1.01. The firm has a 50 day moving average of $81.43 and a 200-day moving average of $75.70.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, April 20th. The real estate investment trust reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.64. The business had revenue of $66.15 million during the quarter, compared to the consensus estimate of $66.76 million. EastGroup Properties had a net margin of 33.62% and a return on equity of 13.70%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, analysts expect that EastGroup Properties, Inc. will post $1.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Tuesday, May 16th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.93%. EastGroup Properties’s dividend payout ratio is presently 93.94%.

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A number of equities research analysts recently commented on the stock. BidaskClub cut shares of EastGroup Properties from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus increased their target price on shares of EastGroup Properties from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Monday, April 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 target price on shares of EastGroup Properties in a research report on Tuesday, March 7th. BMO Capital Markets reissued a “hold” rating and set a $70.00 target price on shares of EastGroup Properties in a research report on Wednesday, March 22nd. Finally, Mizuho increased their target price on shares of EastGroup Properties from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $76.25.

In other news, Director David H. Hoster II sold 1,259 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $84.00, for a total transaction of $105,756.00. Following the completion of the sale, the director now owns 186,130 shares in the company, valued at approximately $15,634,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director H C. Bailey, Jr. sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $81.31, for a total transaction of $69,113.50. Following the sale, the director now owns 3,082 shares of the company’s stock, valued at approximately $250,597.42. The disclosure for this sale can be found here. Insiders have sold a total of 20,109 shares of company stock valued at $1,601,930 in the last 90 days. Insiders own 2.90% of the company’s stock.

EastGroup Properties Company 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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