Trillium Asset Management LLC boosted its stake in Eastgroup Properties Inc (NYSE:EGP) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,841 shares of the real estate investment trust’s stock after purchasing an additional 586 shares during the quarter. Trillium Asset Management LLC’s holdings in Eastgroup Properties were worth $1,434,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Everence Capital Management Inc. boosted its stake in Eastgroup Properties by 83.1% in the 1st quarter. Everence Capital Management Inc. now owns 4,980 shares of the real estate investment trust’s stock worth $556,000 after purchasing an additional 2,260 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in Eastgroup Properties by 8.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 2,492 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 191 shares during the period. South Dakota Investment Council increased its stake in Eastgroup Properties by 11.3% in the 1st quarter. South Dakota Investment Council now owns 39,300 shares of the real estate investment trust’s stock worth $4,387,000 after purchasing an additional 4,000 shares during the period. California Public Employees Retirement System increased its stake in Eastgroup Properties by 11.0% in the 1st quarter. California Public Employees Retirement System now owns 69,254 shares of the real estate investment trust’s stock worth $7,732,000 after purchasing an additional 6,840 shares during the period. Finally, Honeywell International Inc. increased its stake in Eastgroup Properties by 50.1% in the 1st quarter. Honeywell International Inc. now owns 29,050 shares of the real estate investment trust’s stock worth $3,243,000 after purchasing an additional 9,690 shares during the period. Institutional investors and hedge funds own 94.08% of the company’s stock.
Shares of EGP traded up $0.05 during midday trading on Friday, hitting $113.36. The company had a trading volume of 692 shares, compared to its average volume of 618,010. The company has a market capitalization of $4.13 billion, a P/E ratio of 24.24, a PEG ratio of 4.43 and a beta of 0.84. Eastgroup Properties Inc has a 52 week low of $87.69 and a 52 week high of $116.45. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.02 and a current ratio of 0.02.
Eastgroup Properties (NYSE:EGP) last announced its quarterly earnings data on Monday, April 22nd. The real estate investment trust reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. Eastgroup Properties had a net margin of 26.82% and a return on equity of 9.19%. The business had revenue of $78.79 million during the quarter, compared to the consensus estimate of $78.83 million. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that Eastgroup Properties Inc will post 4.88 earnings per share for the current fiscal year.
In related news, insider John F. Coleman sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $111.09, for a total transaction of $1,110,900.00. Following the completion of the sale, the insider now owns 99,657 shares of the company’s stock, valued at approximately $11,070,896.13. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.
A number of brokerages have commented on EGP. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, April 9th. SunTrust Banks upped their price target on Eastgroup Properties from $92.00 to $98.00 and gave the stock a “hold” rating in a research report on Tuesday, February 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.52.
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.
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