Federated Investors Inc. PA acquired a new position in shares of Eastgroup Properties Inc (NYSE:EGP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,200 shares of the real estate investment trust’s stock, valued at approximately $115,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meadow Creek Investment Management LLC increased its position in shares of Eastgroup Properties by 20.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,086 shares of the real estate investment trust’s stock worth $582,000 after purchasing an additional 1,054 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Eastgroup Properties by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 525,394 shares of the real estate investment trust’s stock worth $50,207,000 after purchasing an additional 4,656 shares in the last quarter. Legal & General Group Plc increased its position in shares of Eastgroup Properties by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 173,680 shares of the real estate investment trust’s stock worth $16,590,000 after purchasing an additional 6,731 shares in the last quarter. BlackRock Inc. increased its position in shares of Eastgroup Properties by 15.5% during the 2nd quarter. BlackRock Inc. now owns 6,732,435 shares of the real estate investment trust’s stock worth $643,352,000 after purchasing an additional 902,295 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Eastgroup Properties by 2.0% during the 2nd quarter. Swiss National Bank now owns 60,987 shares of the real estate investment trust’s stock worth $5,828,000 after purchasing an additional 1,200 shares in the last quarter. 93.96% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on EGP shares. Stifel Nicolaus upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $93.00 to $103.00 in a research report on Thursday, May 31st. ValuEngine cut shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. Zacks Investment Research upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research report on Wednesday, July 4th. Bank of America raised their price objective on shares of Eastgroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, July 16th. Finally, Sandler O’Neill set a $105.00 price objective on shares of Eastgroup Properties and gave the company a “buy” rating in a research report on Monday, July 23rd. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Eastgroup Properties currently has an average rating of “Hold” and an average price target of $95.64.

EGP opened at $93.14 on Friday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 4.13 and a beta of 0.77. Eastgroup Properties Inc has a 1-year low of $77.74 and a 1-year high of $99.39.

Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, July 19th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $74.90 million during the quarter, compared to analysts’ expectations of $72.60 million. Eastgroup Properties had a net margin of 28.00% and a return on equity of 10.26%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. equities research analysts forecast that Eastgroup Properties Inc will post 4.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.09%. The ex-dividend date is Thursday, September 27th. This is a boost from Eastgroup Properties’s previous quarterly dividend of $0.64. Eastgroup Properties’s dividend payout ratio (DPR) is presently 60.09%.

In other news, Director H C. Bailey, Jr. sold 265 shares of the firm’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $96.44, for a total value of $25,556.60. Following the transaction, the director now owns 3,759 shares of the company’s stock, valued at approximately $362,517.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F. Coleman sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $96.27, for a total transaction of $481,350.00. The disclosure for this sale can be found here. Insiders sold a total of 9,965 shares of company stock valued at $964,687 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

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

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