FCA Corp TX acquired a new stake in shares of Eastgroup Properties Inc (NYSE:EGP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,200 shares of the real estate investment trust’s stock, valued at approximately $110,000.
Several other institutional investors have also added to or reduced their stakes in EGP. Norges Bank purchased a new position in Eastgroup Properties in the fourth quarter worth about $38,078,000. BlackRock Inc. boosted its position in Eastgroup Properties by 3.9% in the third quarter. BlackRock Inc. now owns 6,992,530 shares of the real estate investment trust’s stock worth $668,625,000 after purchasing an additional 260,095 shares during the last quarter. Eaton Vance Management boosted its position in Eastgroup Properties by 2,451.8% in the third quarter. Eaton Vance Management now owns 168,827 shares of the real estate investment trust’s stock worth $16,143,000 after purchasing an additional 162,211 shares during the last quarter. Earnest Partners LLC boosted its position in Eastgroup Properties by 14.8% in the third quarter. Earnest Partners LLC now owns 1,010,119 shares of the real estate investment trust’s stock worth $94,082,000 after purchasing an additional 130,523 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Eastgroup Properties by 26.4% in the third quarter. Macquarie Group Ltd. now owns 564,988 shares of the real estate investment trust’s stock worth $54,024,000 after purchasing an additional 118,132 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on EGP shares. Zacks Investment Research raised Eastgroup Properties from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research report on Tuesday, December 25th. SunTrust Banks raised their target price on Eastgroup Properties from $92.00 to $98.00 and gave the stock a “hold” rating in a research report on Tuesday, February 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $101.52.
Eastgroup Properties (NYSE:EGP) last posted 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. The firm had revenue of $78.79 million for the quarter, compared to the consensus estimate of $78.83 million. Eastgroup Properties had a return on equity of 10.32% and a net margin of 29.46%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share. On average, analysts forecast that Eastgroup Properties Inc will post 4.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.55%. The ex-dividend date was Thursday, March 28th. Eastgroup Properties’s dividend payout ratio (DPR) is presently 61.67%.
In related news, insider John F. Coleman sold 10,000 shares of Eastgroup Properties stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $111.09, for a total transaction of $1,110,900.00. Following the sale, the insider now owns 99,657 shares of the company’s stock, valued at approximately $11,070,896.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.
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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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