Huntington National Bank lifted its position in shares of Eastgroup Properties Inc (NYSE:EGP) by 84.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 766 shares of the real estate investment trust’s stock after purchasing an additional 350 shares during the period. Huntington National Bank’s holdings in Eastgroup Properties were worth $85,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Triangle Securities Wealth Management purchased a new stake in shares of Eastgroup Properties during the 1st quarter worth $1,954,000. Deutsche Bank AG lifted its position in shares of Eastgroup Properties by 43.7% during the 4th quarter. Deutsche Bank AG now owns 136,718 shares of the real estate investment trust’s stock worth $12,538,000 after purchasing an additional 41,547 shares during the last quarter. FCA Corp TX purchased a new stake in shares of Eastgroup Properties during the 4th quarter worth $110,000. Geode Capital Management LLC lifted its position in shares of Eastgroup Properties by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 480,444 shares of the real estate investment trust’s stock worth $44,071,000 after purchasing an additional 49,158 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Eastgroup Properties during the 4th quarter worth $38,078,000. 95.67% of the stock is owned by institutional investors and hedge funds.
In related news, insider John F. Coleman sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $111.09, for a total value of $1,110,900.00. Following the completion of the sale, the insider now directly owns 99,657 shares of the company’s stock, valued at $11,070,896.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by insiders.
Shares of EGP opened at $109.80 on Wednesday. Eastgroup Properties Inc has a 1-year low of $82.86 and a 1-year high of $114.32. The firm has a market capitalization of $4.14 billion, a P/E ratio of 24.29, a P/E/G ratio of 4.73 and a beta of 0.84.
Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $1.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.18. Eastgroup Properties had a net margin of 29.46% and a return on equity of 10.32%. The firm had revenue of $77.97 million during the quarter, compared to analysts’ expectations of $76.80 million. During the same period in the previous year, the company earned $1.14 earnings per share. Eastgroup Properties’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts predict that Eastgroup Properties Inc will post 4.85 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.72 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.88 dividend on an annualized basis and a yield of 2.62%. Eastgroup Properties’s dividend payout ratio (DPR) is presently 61.67%.
Eastgroup Properties Company Profile
EastGroup Properties, Inc is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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