Ingalls & Snyder LLC held its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the real estate investment trust’s stock at the end of the second quarter. Ingalls & Snyder LLC’s holdings in EastGroup Properties were worth $251,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Chicago Equity Partners LLC boosted its stake in shares of EastGroup Properties by 1.1% in the first quarter. Chicago Equity Partners LLC now owns 22,085 shares of the real estate investment trust’s stock valued at $1,624,000 after buying an additional 250 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of EastGroup Properties by 1.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 32,332 shares of the real estate investment trust’s stock valued at $2,377,000 after buying an additional 516 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of EastGroup Properties by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 62,249 shares of the real estate investment trust’s stock valued at $4,575,000 after buying an additional 3,793 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in EastGroup Properties by 3.6% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,231 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 180 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in EastGroup Properties by 9.2% in the first quarter. Wells Fargo & Company MN now owns 223,032 shares of the real estate investment trust’s stock valued at $16,400,000 after buying an additional 18,844 shares in the last quarter. Institutional investors and hedge funds own 95.05% of the company’s stock.
EastGroup Properties, Inc. (NYSE:EGP) traded up 0.06% during trading on Friday, reaching $85.24. The company had a trading volume of 216,735 shares. The firm has a market capitalization of $2.91 billion, a P/E ratio of 35.73 and a beta of 0.98. The firm’s 50-day moving average price is $84.44 and its 200 day moving average price is $78.91. EastGroup Properties, Inc. has a one year low of $63.99 and a one year high of $88.13.
EastGroup Properties (NYSE:EGP) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.60. EastGroup Properties had a net margin of 30.20% and a return on equity of 12.05%. The company had revenue of $67.90 million for the quarter, compared to analyst estimates of $67.16 million. During the same period in the prior year, the business earned $0.99 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that EastGroup Properties, Inc. will post $2.42 earnings per share for the current fiscal year.
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EGP has been the subject of a number of research reports. Stifel Nicolaus reiterated a “hold” rating and set a $85.00 price target on shares of EastGroup Properties in a report on Friday, July 28th. BidaskClub lowered EastGroup Properties from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Tuesday, July 11th. Mizuho boosted their target price on EastGroup Properties from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $75.00 target price on shares of EastGroup Properties in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. EastGroup Properties presently has an average rating of “Hold” and a consensus target price of $80.78.
In other news, Director H C. Bailey, Jr. sold 850 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $81.31, for a total value of $69,113.50. Following the sale, the director now directly owns 3,082 shares in the company, valued at approximately $250,597.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John F. Coleman sold 5,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.56, for a total transaction of $402,800.00. The disclosure for this sale can be found here. Insiders sold a total of 7,109 shares of company stock worth $577,670 over the last 90 days. Company insiders own 2.90% of the company’s stock.
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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