Pensionfund DSM Netherlands cut its holdings in shares of Eastgroup Properties Inc (NYSE:EGP) by 64.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,200 shares of the real estate investment trust’s stock after selling 11,300 shares during the period. Pensionfund DSM Netherlands’ holdings in Eastgroup Properties were worth $692,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. We Are One Seven LLC purchased a new position in shares of Eastgroup Properties during the 4th quarter valued at approximately $48,000. Capital Financial Planning LLC acquired a new stake in shares of Eastgroup Properties during the 4th quarter worth about $52,000. Rehmann Capital Advisory Group increased its position in shares of Eastgroup Properties by 23.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 766 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 146 shares during the last quarter. FCA Corp TX acquired a new position in Eastgroup Properties in the 4th quarter valued at about $110,000. Finally, Exane Derivatives grew its position in Eastgroup Properties by 16,841.7% in the 4th quarter. Exane Derivatives now owns 2,033 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 2,021 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.
In other Eastgroup Properties 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 directly owns 99,657 shares of the company’s stock, valued at $11,070,896.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.
Eastgroup Properties (NYSE:EGP) last released its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. The firm had revenue of $78.79 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. As a group, sell-side analysts predict that Eastgroup Properties Inc will post 4.85 EPS for the current year.
The company also recently declared 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. The ex-dividend date was Thursday, March 28th. This represents a $2.88 annualized dividend and a yield of 2.55%. Eastgroup Properties’s dividend payout ratio is 61.67%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Tuesday, April 9th. SunTrust Banks lifted their price target 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 investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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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