Los Angeles Capital Management & Equity Research Inc. increased its stake in Eastgroup Properties Inc (NYSE:EGP) by 101.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,300 shares of the real estate investment trust’s stock after acquiring an additional 26,375 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.14% of Eastgroup Properties worth $6,066,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new stake in shares of Eastgroup Properties during the first quarter valued at approximately $67,000. Private Capital Group LLC increased its holdings in shares of Eastgroup Properties by 45.1% during the first quarter. Private Capital Group LLC now owns 721 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 224 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Eastgroup Properties during the second quarter valued at approximately $81,000. Huntington National Bank increased its holdings in shares of Eastgroup Properties by 84.1% during the first quarter. Huntington National Bank now owns 766 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 350 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Eastgroup Properties by 267.7% during the first quarter. Quadrant Capital Group LLC now owns 1,059 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 771 shares in the last quarter. 92.56% of the stock is currently owned by institutional investors.
In other Eastgroup Properties news, Director David H. Hoster II sold 942 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $110.83, for a total value of $104,401.86. Following the completion of the transaction, the director now owns 174,588 shares in the company, valued at approximately $19,349,588.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Shares of Eastgroup Properties stock opened at $122.64 on Wednesday. The stock’s fifty day moving average is $119.01. Eastgroup Properties Inc has a 12-month low of $87.69 and a 12-month high of $123.03. The company has a market capitalization of $4.60 billion, a P/E ratio of 26.26, a P/E/G ratio of 5.12 and a beta of 0.80.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, June 27th. This represents a $2.88 annualized dividend and a yield of 2.35%. Eastgroup Properties’s dividend payout ratio (DPR) is currently 61.67%.
Several equities research analysts recently issued reports on EGP shares. SunTrust Banks upped their price target on Eastgroup Properties from $105.00 to $115.00 and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Eastgroup Properties from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Monday, August 5th. Finally, Morgan Stanley upped their price target on Eastgroup Properties from $105.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $110.65.
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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