EastGroup Properties, Inc. (NYSE:EGP) insider Bruce Corkern sold 3,586 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $91.75, for a total value of $329,015.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of EastGroup Properties, Inc. (EGP) traded up $0.35 on Friday, reaching $91.33. 123,300 shares of the company’s stock traded hands, compared to its average volume of 197,322. EastGroup Properties, Inc. has a 1-year low of $67.69 and a 1-year high of $95.03. The firm has a market capitalization of $3,160.00, a P/E ratio of 21.50, a P/E/G ratio of 4.96 and a beta of 0.98.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 EPS for the quarter, beating the consensus estimate of $0.47 by $0.61. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.70%. The business had revenue of $68.75 million during the quarter, compared to the consensus estimate of $68.74 million. During the same period in the previous year, the business earned $1.04 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. research analysts predict that EastGroup Properties, Inc. will post 4.23 earnings per share for the current 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 paid 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 dividend yield of 2.80%. EastGroup Properties’s payout ratio is presently 107.11%.

A number of equities research analysts have recently weighed in on EGP shares. Bank of America upgraded shares of EastGroup Properties from a “neutral” rating to a “buy” rating and lifted their price target for the company from $91.00 to $96.00 in a research report on Wednesday, August 16th. KeyCorp reiterated a “neutral” rating on shares of EastGroup Properties in a research report on Friday, August 25th. Sandler O’Neill upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and lifted their price target for the company from $90.00 to $104.00 in a research report on Tuesday, September 5th. ValuEngine upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Finally, Zacks Investment Research upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. EastGroup Properties presently has a consensus rating of “Hold” and a consensus target price of $87.83.

Several hedge funds and other institutional investors have recently bought and sold shares of EGP. Integrated Investment Consultants LLC bought a new stake in shares of EastGroup Properties during the third quarter worth $115,000. First Mercantile Trust Co. grew its stake in shares of 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 buying an additional 30 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of EastGroup Properties during the third quarter worth $202,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of EastGroup Properties by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,454 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 234 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its stake in shares of EastGroup Properties by 25.0% during the second quarter. Riverhead Capital Management LLC now owns 2,500 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 500 shares during the last quarter. 96.27% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Insider Buying and Selling by Quarter for EastGroup Properties (NYSE:EGP)

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