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

EastGroup Properties, Inc. (NYSE:EGP) Director David H. Hoster II sold 12,250 shares of the business’s 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 transaction, the director now owns 173,880 shares in the company, valued at $16,362,108. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of EastGroup Properties, Inc. (NYSE:EGP) opened at $92.43 on Tuesday. The company has a market cap of $3,231.79, a P/E ratio of 22.35, a PEG ratio of 5.16 and a beta of 0.98. EastGroup Properties, Inc. has a 12-month low of $67.69 and a 12-month high of $95.03.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.61. The company 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 firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 earnings per share. analysts predict that EastGroup Properties, Inc. will post 4.23 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, December 14th. EastGroup Properties’s payout ratio is 107.56%.

Several research firms have recently commented on EGP. Bank of America lifted their price target on shares of EastGroup Properties from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Citigroup lifted their price target on shares of EastGroup Properties from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. SunTrust Banks set a $85.00 price target on shares of EastGroup Properties and gave the company a “sell” rating in a research report on Sunday, October 29th. Zacks Investment Research lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Cantor Fitzgerald lifted their price target on shares of EastGroup Properties from $79.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $87.83.

A number of hedge funds and other institutional investors have recently made changes to their positions in EGP. Teachers Advisors LLC raised its position in EastGroup Properties by 3.2% in the first quarter. Teachers Advisors LLC now owns 59,077 shares of the real estate investment trust’s stock valued at $4,344,000 after purchasing an additional 1,830 shares during the period. Renaissance Technologies LLC raised its position in EastGroup Properties by 160.0% in the first quarter. Renaissance Technologies LLC now owns 7,800 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 4,800 shares during the period. Aperio Group LLC raised its position in EastGroup Properties by 2.5% in the second quarter. Aperio Group LLC now owns 7,934 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 195 shares during the period. Municipal Employees Retirement System of Michigan raised its position in EastGroup Properties by 7.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,010 shares of the real estate investment trust’s stock valued at $671,000 after purchasing an additional 570 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in EastGroup Properties by 4.2% in the second quarter. Great West Life Assurance Co. Can now owns 64,867 shares of the real estate investment trust’s stock valued at $5,434,000 after purchasing an additional 2,618 shares during the period. 96.27% of the stock is currently owned by institutional investors.

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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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