Westwood Management Corp IL acquired a new stake in Eastgroup Properties Inc (NYSE:EGP) in the first quarter, Holdings Channel reports. The firm acquired 2,000 shares of the real estate investment trust’s stock, valued at approximately $223,000.

Other hedge funds have also made changes to their positions in the company. Huntington National Bank grew its holdings in shares of Eastgroup Properties by 84.1% in the first quarter. Huntington National Bank now owns 766 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 350 shares in the last quarter. Stifel Financial Corp lifted its stake in Eastgroup Properties by 36.3% in the fourth quarter. Stifel Financial Corp now owns 184,198 shares of the real estate investment trust’s stock worth $16,935,000 after acquiring an additional 49,056 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Eastgroup Properties by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 514,068 shares of the real estate investment trust’s stock worth $49,155,000 after acquiring an additional 12,691 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Eastgroup Properties during the 4th quarter worth approximately $247,000. Finally, Castleark Management LLC purchased a new stake in shares of Eastgroup Properties during the 4th quarter worth approximately $1,667,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

In related news, insider John F. Coleman sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 99,657 shares in the company, valued at approximately $11,070,896.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by insiders.

Shares of Eastgroup Properties stock traded down $0.42 on Thursday, hitting $112.55. The company’s stock had a trading volume of 35,600 shares, compared to its average volume of 164,285. Eastgroup Properties Inc has a 52-week low of $84.72 and a 52-week high of $115.23. The firm has a market capitalization of $4.15 billion, a PE ratio of 24.10, a P/E/G ratio of 4.68 and a beta of 0.84.

Eastgroup Properties (NYSE:EGP) last released its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $1.20 EPS for the quarter, topping the consensus estimate of $1.18 by $0.02. Eastgroup Properties had a net margin of 26.82% and a return on equity of 9.32%. The business had revenue of $78.79 million for the quarter, compared to analyst estimates of $78.83 million. During the same period in the previous year, the firm earned $1.16 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, research analysts forecast that Eastgroup Properties Inc will post 4.85 earnings per share for the current fiscal year.

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.56%. Eastgroup Properties’s dividend payout ratio is presently 61.67%.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, April 9th. SunTrust Banks upped their price target on shares of Eastgroup Properties from $92.00 to $98.00 and gave the stock a “hold” rating in a research note on Tuesday, February 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Eastgroup Properties presently has a consensus rating of “Hold” and a consensus target price of $101.52.

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

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