Texas Permanent School Fund lifted its holdings in Eastgroup Properties Inc (NYSE:EGP) by 5.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,769 shares of the real estate investment trust’s stock after purchasing an additional 1,184 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Eastgroup Properties worth $2,765,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc boosted its position in Eastgroup Properties by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 5,502,403 shares of the real estate investment trust’s stock worth $526,140,000 after acquiring an additional 116,567 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Eastgroup Properties by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,450,207 shares of the real estate investment trust’s stock worth $234,289,000 after acquiring an additional 75,453 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Eastgroup Properties by 19.5% during the 4th quarter. Macquarie Group Ltd. now owns 674,957 shares of the real estate investment trust’s stock worth $61,914,000 after purchasing an additional 109,969 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Eastgroup Properties by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 548,940 shares of the real estate investment trust’s stock worth $50,353,000 after purchasing an additional 13,551 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Eastgroup Properties by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 518,819 shares of the real estate investment trust’s stock worth $47,590,000 after purchasing an additional 4,751 shares in the last quarter. Institutional investors and hedge funds own 94.08% of the company’s stock.
In related news, insider John F. Coleman sold 10,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $111.09, for a total value of $1,110,900.00. Following the sale, the insider now owns 99,657 shares in the company, valued at approximately $11,070,896.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Shares of Eastgroup Properties stock traded up $0.61 on Thursday, reaching $113.10. 7,231 shares of the company were exchanged, compared to its average volume of 284,905. Eastgroup Properties Inc has a one year low of $87.69 and a one year high of $116.45. The stock has a market cap of $4.14 billion, a P/E ratio of 24.26, a P/E/G ratio of 4.42 and a beta of 0.84. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 1.22.
Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.02. Eastgroup Properties had a return on equity of 9.19% and a net margin of 26.82%. The company had revenue of $78.79 million for the quarter, compared to analysts’ expectations of $78.83 million. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that Eastgroup Properties Inc will post 4.88 EPS for the current year.
EGP has been the topic of a number of analyst reports. SunTrust Banks upped their price objective on Eastgroup Properties from $92.00 to $98.00 and gave the stock a “hold” rating in a research note on Tuesday, February 19th. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.52.
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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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