David H. Hoster II Sells 12,250 Shares of EastGroup Properties, Inc. (EGP) Stock

EastGroup Properties, Inc. (NYSE:EGP) Director David H. Hoster II sold 12,250 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $94.10, for a total value of $1,152,725.00. Following the sale, the director now owns 173,880 shares of the company’s stock, valued at approximately $16,362,108. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

EastGroup Properties, Inc. (EGP) opened at $90.92 on Wednesday. EastGroup Properties, Inc. has a 52-week low of $67.69 and a 52-week high of $95.03. The stock has a market capitalization of $3,190.00, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 5.16 and a beta of 0.98.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.61. The business had revenue of $68.75 million for the quarter, compared to analyst estimates of $68.74 million. EastGroup Properties had a return on equity of 11.70% and a net margin of 30.03%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. research analysts predict that EastGroup Properties, Inc. will post 4.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, December 14th. EastGroup Properties’s dividend payout ratio is currently 107.11%.

Hedge funds have recently bought and sold shares of the stock. Integrated Investment Consultants LLC acquired a new stake in shares of EastGroup Properties during the 3rd quarter valued at approximately $115,000. First Mercantile Trust Co. raised its position in shares of EastGroup Properties by 1.8% during the 2nd quarter. First Mercantile Trust Co. now owns 1,720 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 30 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of EastGroup Properties during the 3rd quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of EastGroup Properties by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,454 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 234 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its position in shares of EastGroup Properties by 25.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,500 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 500 shares in the last quarter. 96.27% of the stock is currently owned by institutional investors and hedge funds.

EGP has been the subject of a number of analyst reports. Cantor Fitzgerald upped their price target on EastGroup Properties from $79.00 to $84.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Bank of America upped their price target on EastGroup Properties from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Monday, November 6th. SunTrust Banks set a $85.00 price target on EastGroup Properties and gave the stock a “sell” rating in a report on Sunday, October 29th. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Monday, October 2nd. Finally, ValuEngine cut EastGroup Properties from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. EastGroup Properties presently has a consensus rating of “Hold” and a consensus price target of $87.83.

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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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