Asset Management One Co. Ltd. raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 89,734 shares of the real estate investment trust’s stock after acquiring an additional 1,119 shares during the period. Asset Management One Co. Ltd. owned approximately 0.26% of EastGroup Properties worth $7,927,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in EGP. Integrated Investment Consultants LLC purchased a new position in shares of EastGroup Properties during the third quarter valued at approximately $115,000. First Mercantile Trust Co. boosted its position in shares of EastGroup Properties by 1.8% during the second quarter. First Mercantile Trust Co. now owns 1,720 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 30 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of EastGroup Properties during the third quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of EastGroup Properties by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,454 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 234 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its position in shares of EastGroup Properties by 25.0% during the second quarter. Riverhead Capital Management LLC now owns 2,500 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 500 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the company. Bank of America lifted their target price on EastGroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 6th. DA Davidson set a $100.00 target price on EastGroup Properties and gave the company a “hold” rating in a research report on Friday, October 20th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $79.00 target price on shares of EastGroup Properties in a research report on Friday, October 20th. ValuEngine raised EastGroup Properties from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $82.00 target price on shares of EastGroup Properties in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. EastGroup Properties currently has an average rating of “Hold” and an average price target of $88.33.

Shares of EastGroup Properties, Inc. (NYSE:EGP) traded up $0.30 during trading on Monday, reaching $90.42. The company had a trading volume of 472,600 shares, compared to its average volume of 198,211. The company has a market capitalization of $3,112.71, a price-to-earnings ratio of 21.53, a P/E/G ratio of 4.97 and a beta of 0.98. EastGroup Properties, Inc. has a 1-year low of $67.69 and a 1-year high of $95.03.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.61. The business had revenue of $68.75 million for the quarter, compared to analyst estimates of $68.74 million. EastGroup Properties had a return on equity of 11.70% and a net margin of 30.03%. EastGroup Properties’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. equities analysts forecast that EastGroup Properties, Inc. will post 4.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.56 dividend on an annualized basis and a yield of 2.83%. EastGroup Properties’s dividend payout ratio (DPR) is currently 107.56%.

In other EastGroup Properties news, Director David H. Hoster II sold 12,250 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $94.10, for a total value of $1,152,725.00. Following the sale, the director now directly owns 173,880 shares in the company, valued at $16,362,108. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brent Wood sold 3,300 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $90.26, for a total value of $297,858.00. The disclosure for this sale can be found here. Insiders have sold 22,668 shares of company stock worth $2,105,037 over the last quarter. 2.90% of the stock is currently 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.

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

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