EastGroup Properties, Inc. (EGP) Director Sells $1,152,725.00 in Stock

EastGroup Properties, Inc. (NYSE:EGP) Director David H. Hoster II sold 12,250 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 173,880 shares in the company, valued at $16,362,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

EastGroup Properties, Inc. (NYSE:EGP) traded down $0.20 on Monday, reaching $93.88. The company’s stock had a trading volume of 174,200 shares, compared to its average volume of 197,873. The stock has a market cap of $3,231.79, a P/E ratio of 22.35, a P/E/G ratio of 5.16 and a beta of 0.98. EastGroup Properties, Inc. has a one year low of $67.69 and a one year high of $95.03.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 EPS for the quarter, topping the consensus estimate of $0.47 by $0.61. The company had revenue of $68.75 million for the quarter, compared to the consensus estimate of $68.74 million. EastGroup Properties had a return on equity of 11.70% and a net margin of 30.03%. EastGroup Properties’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS. research analysts expect that EastGroup Properties, Inc. will post 4.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.56 annualized dividend and a yield of 2.73%. EastGroup Properties’s payout ratio is currently 107.56%.

Several brokerages have recently weighed in on EGP. Bank of America increased 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. Citigroup increased their price target on EastGroup Properties from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. 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 downgraded EastGroup Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, Cantor Fitzgerald increased 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.83.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Investment Consultants LLC purchased a new position in EastGroup Properties in the 3rd quarter worth $115,000. First Mercantile Trust Co. raised its stake 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 buying an additional 30 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of EastGroup Properties during the 3rd quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 buying an additional 234 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its stake 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 buying an additional 500 shares during the last quarter. Institutional investors own 96.27% of the company’s stock.

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About EastGroup Properties

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.

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