Eastgroup Properties Inc (EGP) Director Purchases $240,150.00 in Stock

Eastgroup Properties Inc (NYSE:EGP) Director Fredric H. Gould bought 3,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $80.05 per share, with a total value of $240,150.00. Following the completion of the transaction, the director now directly owns 13,688 shares of the company’s stock, valued at $1,095,724.40. The transaction was disclosed in a filing with the SEC, which is available through this link.

Eastgroup Properties Inc (EGP) traded down $0.24 during trading on Monday, hitting $80.06. The stock had a trading volume of 424,539 shares, compared to its average volume of 235,315. Eastgroup Properties Inc has a 52-week low of $69.53 and a 52-week high of $95.03. The company has a market capitalization of $2,720.00, a price-to-earnings ratio of 32.81, a P/E/G ratio of 4.03 and a beta of 0.92.

Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Eastgroup Properties had a return on equity of 11.76% and a net margin of 30.34%. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $69.66 million. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. research analysts anticipate that Eastgroup Properties Inc will post 4.5 earnings per share for the current year.

A number of research firms have issued reports on EGP. Sandler O’Neill reissued a “buy” rating and issued a $95.00 target price on shares of Eastgroup Properties in a research report on Wednesday, February 7th. Zacks Investment Research downgraded Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Mizuho reissued a “hold” rating and issued a $90.00 target price on shares of Eastgroup Properties in a research report on Sunday, February 4th. Cantor Fitzgerald raised their target price on Eastgroup Properties from $79.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Finally, SunTrust Banks raised Eastgroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $87.42.

Institutional investors have recently bought and sold shares of the company. Swiss National Bank boosted its holdings in shares of Eastgroup Properties by 2.2% in the third quarter. Swiss National Bank now owns 56,687 shares of the real estate investment trust’s stock worth $4,995,000 after acquiring an additional 1,200 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Eastgroup Properties by 2.0% in the third quarter. Prudential Financial Inc. now owns 58,915 shares of the real estate investment trust’s stock worth $5,192,000 after acquiring an additional 1,130 shares during the period. Stifel Financial Corp bought a new position in shares of Eastgroup Properties in the third quarter worth $365,000. Schroder Investment Management Group bought a new position in shares of Eastgroup Properties in the third quarter worth $413,000. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Eastgroup Properties by 1.3% in the third quarter. Asset Management One Co. Ltd. now owns 89,734 shares of the real estate investment trust’s stock worth $7,927,000 after acquiring an additional 1,119 shares during the period. 95.82% of the stock is 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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