Public Employees Retirement System of Ohio raised its position in Eastgroup Properties Inc (NYSE:EGP) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,762 shares of the real estate investment trust’s stock after purchasing an additional 614 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.10% of Eastgroup Properties worth $4,971,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of EGP. Price T Rowe Associates Inc. MD grew its holdings in shares of Eastgroup Properties by 0.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,979,616 shares of the real estate investment trust’s stock valued at $345,576,000 after buying an additional 18,209 shares during the period. Nuveen Asset Management LLC bought a new position in Eastgroup Properties during the second quarter worth about $106,211,000. Silvercrest Asset Management Group LLC grew its stake in Eastgroup Properties by 0.3% in the second quarter. Silvercrest Asset Management Group LLC now owns 795,368 shares of the real estate investment trust’s stock valued at $92,247,000 after acquiring an additional 2,678 shares during the period. Northern Trust Corp grew its stake in Eastgroup Properties by 18.1% in the second quarter. Northern Trust Corp now owns 729,681 shares of the real estate investment trust’s stock valued at $84,628,000 after acquiring an additional 112,046 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Eastgroup Properties by 3.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 553,644 shares of the real estate investment trust’s stock valued at $64,212,000 after acquiring an additional 17,083 shares during the period. 90.86% of the stock is owned by hedge funds and other institutional investors.
In related news, Director David H. Hoster II sold 6,000 shares of Eastgroup Properties stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $132.84, for a total value of $797,040.00. Following the sale, the director now owns 167,646 shares of the company’s stock, valued at approximately $22,270,094.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.
Eastgroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.25 by ($0.65). The firm had revenue of $83.94 million during the quarter, compared to analyst estimates of $83.24 million. Eastgroup Properties had a net margin of 28.07% and a return on equity of 9.16%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 EPS. As a group, equities research analysts predict that Eastgroup Properties Inc will post 4.96 EPS for the current fiscal year.
A number of equities research analysts have recently commented on EGP shares. ValuEngine lowered Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. SunTrust Banks boosted their price objective on Eastgroup Properties from $105.00 to $115.00 and gave the company a “hold” rating in a research report on Tuesday, August 13th. Morgan Stanley boosted their price objective on Eastgroup Properties from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Citigroup raised their target price on shares of Eastgroup Properties from $109.00 to $129.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Stifel Nicolaus set a $145.00 price target on shares of Eastgroup Properties and gave the company a “buy” rating in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $123.87.
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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