EastGroup Properties, Inc. (NYSE:EGP) insider John F. Coleman sold 6,000 shares of the stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $85.42, for a total value of $512,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE:EGP opened at $87.61 on Friday. EastGroup Properties, Inc. has a 1 year low of $76.44 and a 1 year high of $95.03. The firm has a market cap of $2,999.63, a P/E ratio of 19.38, a PEG ratio of 3.90 and a beta of 0.92.
EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, April 19th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. EastGroup Properties had a return on equity of 13.33% and a net margin of 35.36%. The business had revenue of $72.20 million during the quarter, compared to analyst estimates of $71.62 million. During the same period last year, the company earned $0.99 earnings per share. EastGroup Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. analysts predict that EastGroup Properties, Inc. will post 4.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Wednesday, March 21st were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Tuesday, March 20th. This represents a $2.56 annualized dividend and a dividend yield of 2.92%. EastGroup Properties’s dividend payout ratio is 60.09%.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Tuesday, April 3rd. ValuEngine upgraded EastGroup Properties from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Sandler O’Neill restated a “buy” rating and issued a $95.00 target price on shares of EastGroup Properties in a report on Wednesday, February 7th. Mizuho restated a “hold” rating and issued a $90.00 target price on shares of EastGroup Properties in a report on Sunday, February 4th. Finally, SunTrust Banks upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a report on Monday, January 22nd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $90.20.
Large investors have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC acquired a new position in EastGroup Properties during the fourth quarter worth $148,000. MML Investors Services LLC acquired a new position in EastGroup Properties during the fourth quarter worth $218,000. Vident Investment Advisory LLC acquired a new position in EastGroup Properties during the fourth quarter worth $229,000. Connable Office Inc. acquired a new position in EastGroup Properties during the fourth quarter worth $258,000. Finally, Capital Fund Management S.A. acquired a new position in EastGroup Properties during the fourth quarter worth $274,000. Institutional investors and hedge funds own 96.06% of the company’s stock.
About EastGroup Properties
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.
Receive News & Ratings for EastGroup Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EastGroup Properties and related companies with MarketBeat.com's FREE daily email newsletter.