Monarch Partners Asset Management LLC cut its stake in Eastgroup Properties Inc (NYSE:EGP) by 75.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,729 shares of the real estate investment trust’s stock after selling 70,180 shares during the quarter. Monarch Partners Asset Management LLC’s holdings in Eastgroup Properties were worth $2,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. We Are One Seven LLC bought a new stake in Eastgroup Properties in the fourth quarter worth $48,000. Capital Financial Planning LLC bought a new stake in Eastgroup Properties in the fourth quarter worth $52,000. Quantamental Technologies LLC bought a new stake in Eastgroup Properties in the first quarter worth $67,000. Rehmann Capital Advisory Group lifted its position in Eastgroup Properties by 23.5% in the fourth quarter. Rehmann Capital Advisory Group now owns 766 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 146 shares during the last quarter. Finally, Private Capital Group LLC lifted its position in Eastgroup Properties by 45.1% in the first quarter. Private Capital Group LLC now owns 721 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 224 shares during the last quarter. Institutional investors own 93.10% of the company’s stock.

In other news, insider John F. Coleman sold 10,000 shares of Eastgroup Properties stock in a transaction 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 completion of the sale, the insider now directly owns 99,657 shares in the company, valued at $11,070,896.13. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on EGP shares. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, April 9th. SunTrust Banks raised 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $101.52.

Shares of NYSE:EGP traded up $0.55 on Friday, hitting $113.38. 233,230 shares of the company’s stock were exchanged, compared to its average volume of 279,303. Eastgroup Properties Inc has a 12 month low of $87.69 and a 12 month high of $116.45. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 4.48 and a beta of 0.84. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 1.22.

Eastgroup Properties (NYSE:EGP) last released its earnings results on Monday, April 22nd. The real estate investment trust reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.02. Eastgroup Properties had a return on equity of 9.19% and a net margin of 26.82%. The business had revenue of $78.79 million during the quarter, compared to the consensus estimate of $78.83 million. During the same period last year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts predict that Eastgroup Properties Inc will post 4.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, June 27th. This represents a $2.88 annualized dividend and a dividend yield of 2.54%. Eastgroup Properties’s dividend payout ratio (DPR) is 61.67%.

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

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