Strs Ohio Has $25.74 Million Stock Holdings in EastGroup Properties, Inc. $EGP

Strs Ohio grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,095 shares of the real estate investment trust’s stock after purchasing an additional 20,020 shares during the quarter. Strs Ohio owned about 0.29% of EastGroup Properties worth $25,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of EastGroup Properties in the 2nd quarter valued at approximately $252,405,000. Invesco Ltd. raised its position in EastGroup Properties by 89.5% during the second quarter. Invesco Ltd. now owns 927,566 shares of the real estate investment trust’s stock worth $155,015,000 after acquiring an additional 438,117 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its stake in EastGroup Properties by 31.0% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 814,104 shares of the real estate investment trust’s stock valued at $136,053,000 after acquiring an additional 192,801 shares during the last quarter. Vanguard Group Inc. lifted its stake in EastGroup Properties by 1.5% in the second quarter. Vanguard Group Inc. now owns 7,306,840 shares of the real estate investment trust’s stock valued at $1,221,119,000 after acquiring an additional 108,561 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in shares of EastGroup Properties by 65.7% in the 2nd quarter. Ceredex Value Advisors LLC now owns 266,550 shares of the real estate investment trust’s stock valued at $44,546,000 after acquiring an additional 105,705 shares during the period. Institutional investors own 92.14% of the company’s stock.

Insider Buying and Selling at EastGroup Properties

In other news, EVP Richard Reid Dunbar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the sale, the executive vice president owned 20,630 shares of the company’s stock, valued at approximately $3,610,250. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $181.11 on Friday. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $188.89. The stock’s 50 day moving average is $181.51 and its 200-day moving average is $173.42. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.64 and a beta of 1.11.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.01). The firm had revenue of $182.14 million for the quarter, compared to analyst estimates of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.13 earnings per share. Equities research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $1.55 per share. The ex-dividend date was Wednesday, December 31st. This represents a $6.20 annualized dividend and a yield of 3.4%. EastGroup Properties’s dividend payout ratio (DPR) is presently 130.25%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EGP. Mizuho reaffirmed a “neutral” rating and issued a $172.00 target price (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. Royal Bank Of Canada set a $183.00 price target on EastGroup Properties and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price objective for the company. in a research report on Monday, January 5th. Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. Finally, Wall Street Zen cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $195.19.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.