State of Alaska Department of Revenue Sells 161 Shares of EastGroup Properties, Inc. (NYSE:EGP)


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State of Alaska Department of Revenue cut its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 17,521 shares of the real estate investment trust’s stock after selling 161 shares during the period. State of Alaska Department of Revenue’s holdings in EastGroup Properties were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in EGP. Nissay Asset Management Corp Japan ADV increased its stake in EastGroup Properties by 2.4% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 3,492 shares of the real estate investment trust’s stock valued at $452,000 after acquiring an additional 83 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in EastGroup Properties by 1.0% in the third quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the real estate investment trust’s stock valued at $1,267,000 after buying an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its position in EastGroup Properties by 0.7% in the third quarter. State of Michigan Retirement System now owns 14,319 shares of the real estate investment trust’s stock valued at $1,852,000 after buying an additional 100 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in EastGroup Properties by 94.7% in the third quarter. Harbor Investment Advisory LLC now owns 331 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 161 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in EastGroup Properties by 23.1% in the third quarter. Advisors Asset Management Inc. now owns 878 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 165 shares in the last quarter. 83.14% of the stock is currently owned by institutional investors.

In related news, EVP John F. Coleman sold 3,233 shares of EastGroup Properties stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $136.27, for a total transaction of $440,560.91. Following the completion of the transaction, the executive vice president now owns 94,686 shares of the company’s stock, valued at $12,902,861.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

A number of analysts have weighed in on EGP shares. Zacks Investment Research lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Thursday, January 7th. Mizuho raised their target price on shares of EastGroup Properties from $138.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, November 16th. Finally, Robert W. Baird started coverage on shares of EastGroup Properties in a research report on Tuesday, September 22nd. They issued a “neutral” rating and a $140.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $135.78.

Shares of NYSE:EGP opened at $135.24 on Thursday. The firm has a market cap of $5.35 billion, a PE ratio of 43.63, a price-to-earnings-growth ratio of 3.99 and a beta of 0.73. The firm’s fifty day moving average is $135.97 and its 200-day moving average is $133.20. EastGroup Properties, Inc. has a 52 week low of $83.40 and a 52 week high of $153.26.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.71). EastGroup Properties had a return on equity of 9.94% and a net margin of 33.84%. Research analysts anticipate that EastGroup Properties, Inc. will post 5.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.34%. EastGroup Properties’s dividend payout ratio (DPR) is presently 63.45%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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