EastGroup Properties, Inc. (EGP) Director Sells $1,152,725.00 in Stock
EastGroup Properties, Inc. (NYSE:EGP) Director David H. Hoster II sold 12,250 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 173,880 shares in the company, valued at approximately $16,362,108. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of EastGroup Properties, Inc. (NYSE EGP) opened at $90.28 on Thursday. The stock has a market capitalization of $3,129.89, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 5.00 and a beta of 0.98. EastGroup Properties, Inc. has a 12-month low of $67.69 and a 12-month high of $95.03.
EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.61. The firm had revenue of $68.75 million during the quarter, compared to analysts’ expectations of $68.74 million. EastGroup Properties had a return on equity of 11.70% and a net margin of 30.03%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. equities analysts predict that EastGroup Properties, Inc. will post 4.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.56 dividend on an annualized basis and a yield of 2.84%. EastGroup Properties’s payout ratio is currently 107.56%.
A number of institutional investors have recently made changes to their positions in the business. First Mercantile Trust Co. boosted its position in 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 worth $144,000 after purchasing an additional 30 shares during the period. BB&T Securities LLC boosted its position in EastGroup Properties by 0.8% during the second quarter. BB&T Securities LLC now owns 5,438 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 44 shares during the period. GAM Holding AG boosted its position in shares of EastGroup Properties by 4.6% in the second quarter. GAM Holding AG now owns 2,820 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 125 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of EastGroup Properties by 6.8% in the second quarter. Ameritas Investment Partners Inc. now owns 2,915 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 186 shares during the period. Finally, Aperio Group LLC boosted its position in shares of EastGroup Properties by 2.5% in the second quarter. Aperio Group LLC now owns 7,934 shares of the real estate investment trust’s stock valued at $665,000 after acquiring an additional 195 shares during the period. 96.27% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. Bank of America upgraded EastGroup Properties from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $91.00 to $96.00 in a report on Wednesday, August 16th. KeyCorp restated a “neutral” rating on shares of EastGroup Properties in a report on Friday, August 25th. Sandler O’Neill upgraded EastGroup Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $104.00 in a report on Tuesday, September 5th. Cantor Fitzgerald restated a “hold” rating and issued a $79.00 price objective on shares of EastGroup Properties in a report on Friday, October 20th. Finally, Mizuho downgraded EastGroup Properties from a “buy” rating to a “neutral” rating in a report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $87.83.
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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