Bank of Montreal Can increased its position in EastGroup Properties, Inc. (NYSE:EGP) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 22,404 shares of the real estate investment trust’s stock after buying an additional 11 shares during the period. Bank of Montreal Can’s holdings in EastGroup Properties were worth $1,877,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EGP. Los Angeles Capital Management & Equity Research Inc. bought a new stake in EastGroup Properties during the first quarter worth $206,000. Schnieders Capital Management LLC raised its position in shares of EastGroup Properties by 16.8% in the first quarter. Schnieders Capital Management LLC now owns 7,492 shares of the real estate investment trust’s stock worth $551,000 after buying an additional 1,075 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 period. Chicago Equity Partners LLC raised its position in shares of EastGroup Properties by 1.1% in the first quarter. Chicago Equity Partners LLC now owns 22,085 shares of the real estate investment trust’s stock worth $1,624,000 after buying an additional 250 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of EastGroup Properties by 3.6% in the first quarter. Geode Capital Management LLC now owns 287,237 shares of the real estate investment trust’s stock worth $21,120,000 after buying an additional 10,062 shares during the period. 95.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of EastGroup Properties, Inc. (NYSE:EGP) traded up 1.64% during trading on Monday, hitting $85.65. 58,534 shares of the stock were exchanged. EastGroup Properties, Inc. has a 52 week low of $63.99 and a 52 week high of $88.12. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 35.90 and a beta of 0.98. The stock’s 50 day moving average price is $84.23 and its 200 day moving average price is $78.45.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.60. EastGroup Properties had a net margin of 30.20% and a return on equity of 12.05%. The business had revenue of $67.90 million for the quarter, compared to analyst estimates of $67.16 million. During the same quarter last year, the firm earned $0.99 EPS. The company’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts predict that EastGroup Properties, Inc. will post $2.42 earnings per share for the current year.

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EGP has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Tuesday, July 11th. Evercore ISI reiterated an “underperform” rating and set a $73.00 price target (up previously from $69.00) on shares of EastGroup Properties in a report on Sunday, April 23rd. BidaskClub lowered shares of EastGroup Properties from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Mizuho lifted their price target on shares of EastGroup Properties from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Finally, Stifel Nicolaus lifted their price target on shares of EastGroup Properties from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. EastGroup Properties presently has an average rating of “Hold” and a consensus price target of $78.88.

In other news, Director H C. Bailey, Jr. sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $81.31, for a total value of $69,113.50. Following the completion of the sale, the director now directly owns 3,082 shares of the company’s stock, valued at approximately $250,597.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David H. Hoster II sold 1,259 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was 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 directly owns 186,130 shares of the company’s stock, valued at $15,634,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,109 shares of company stock valued at $577,670. Corporate 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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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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