John F. Coleman Sells 10,000 Shares of Eastgroup Properties Inc (EGP) Stock

Eastgroup Properties Inc (NYSE:EGP) EVP John F. Coleman sold 10,000 shares of Eastgroup Properties stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $99.57, for a total value of $995,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

EGP stock traded up $0.06 during midday trading on Thursday, reaching $100.23. The stock had a trading volume of 122,509 shares, compared to its average volume of 206,469. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 4.09 and a beta of 0.65. Eastgroup Properties Inc has a twelve month low of $77.74 and a twelve month high of $100.86.

Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, October 18th. The real estate investment trust reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.14. The firm had revenue of $75.30 million during the quarter, compared to analyst estimates of $74.65 million. Eastgroup Properties had a return on equity of 10.69% and a net margin of 29.80%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. On average, analysts expect that Eastgroup Properties Inc will post 4.67 EPS for the current year.

A number of research analysts recently issued reports on EGP shares. Zacks Investment Research cut Eastgroup Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. ValuEngine cut Eastgroup Properties from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. SunTrust Banks set a $92.00 price target on Eastgroup Properties and gave the company a “hold” rating in a report on Tuesday, October 23rd. Finally, Citigroup lifted their price target on Eastgroup Properties from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, October 30th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $97.11.

A number of hedge funds have recently made changes to their positions in the stock. Connable Office Inc. increased its position in Eastgroup Properties by 19.2% in the third quarter. Connable Office Inc. now owns 3,374 shares of the real estate investment trust’s stock worth $323,000 after purchasing an additional 544 shares during the period. Raymond James & Associates increased its position in Eastgroup Properties by 1.1% in the second quarter. Raymond James & Associates now owns 49,663 shares of the real estate investment trust’s stock worth $4,746,000 after purchasing an additional 548 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Eastgroup Properties by 4.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 13,089 shares of the real estate investment trust’s stock worth $1,251,000 after purchasing an additional 576 shares during the period. MetLife Investment Advisors LLC increased its position in Eastgroup Properties by 4.0% in the second quarter. MetLife Investment Advisors LLC now owns 15,737 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 600 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Eastgroup Properties by 7.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,334 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 644 shares during the period. Hedge funds and other institutional investors own 94.37% of the company’s stock.

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Eastgroup Properties Company 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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