State of Tennessee Treasury Department Sells 1,099 Shares of Eastgroup Properties Inc (EGP)

State of Tennessee Treasury Department lessened its holdings in shares of Eastgroup Properties Inc (NYSE:EGP) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,682 shares of the real estate investment trust’s stock after selling 1,099 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.07% of Eastgroup Properties worth $2,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EGP. BlackRock Inc. boosted its stake in Eastgroup Properties by 8.1% during the 1st quarter. BlackRock Inc. now owns 5,830,140 shares of the real estate investment trust’s stock worth $481,921,000 after purchasing an additional 436,478 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Eastgroup Properties by 74.2% during the 4th quarter. Earnest Partners LLC now owns 812,624 shares of the real estate investment trust’s stock valued at $71,820,000 after acquiring an additional 346,140 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Eastgroup Properties by 319.9% during the 4th quarter. Renaissance Technologies LLC now owns 130,600 shares of the real estate investment trust’s stock valued at $11,542,000 after acquiring an additional 99,500 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Eastgroup Properties by 49.2% during the 1st quarter. Stifel Financial Corp now owns 161,421 shares of the real estate investment trust’s stock valued at $13,380,000 after acquiring an additional 53,204 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Eastgroup Properties by 7.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 759,307 shares of the real estate investment trust’s stock valued at $67,108,000 after acquiring an additional 53,112 shares during the last quarter. 93.74% of the stock is currently owned by institutional investors.

In other Eastgroup Properties news, Director David H. Hoster II sold 1,032 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $93.38, for a total value of $96,368.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John F. Coleman sold 6,000 shares of the company’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $85.42, for a total transaction of $512,520.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.



NYSE EGP opened at $94.70 on Friday. Eastgroup Properties Inc has a 12 month low of $77.74 and a 12 month high of $96.30. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 3.96 and a beta of 0.92.

Eastgroup Properties (NYSE:EGP) last posted its earnings results on Thursday, April 19th. The real estate investment trust reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. Eastgroup Properties had a net margin of 35.36% and a return on equity of 13.33%. The company had revenue of $72.20 million for the quarter, compared to analysts’ expectations of $71.62 million. During the same quarter in the prior year, the company posted $0.99 earnings per share. Eastgroup Properties’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities research analysts forecast that Eastgroup Properties Inc will post 4.56 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Wednesday, June 20th will be given a $0.64 dividend. The ex-dividend date is Tuesday, June 19th. This represents a $2.56 dividend on an annualized basis and a yield of 2.70%. Eastgroup Properties’s payout ratio is currently 60.09%.

Several research analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $93.00 to $103.00 in a research report on Thursday, May 31st. Zacks Investment Research raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, April 3rd. Finally, ValuEngine raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Eastgroup Properties presently has an average rating of “Hold” and an average price target of $92.00.

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.

Institutional Ownership by Quarter for Eastgroup Properties (NYSE:EGP)

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