Teacher Retirement System of Texas decreased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 10.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,494 shares of the real estate investment trust’s stock after selling 7,546 shares during the period. Teacher Retirement System of Texas owned about 0.18% of EastGroup Properties worth $5,153,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its position in EastGroup Properties by 5.3% in the first quarter. Glen Harbor Capital Management LLC now owns 1,760 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 88 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in EastGroup Properties by 8.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,220 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 168 shares during the period. Elkfork Partners LLC raised its position in EastGroup Properties by 5.3% in the first quarter. Elkfork Partners LLC now owns 2,240 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 112 shares during the period. Daiwa Securities Group Inc. raised its position in EastGroup Properties by 31.6% in the first quarter. Daiwa Securities Group Inc. now owns 2,500 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 600 shares during the period. Finally, Heritage Trust Co purchased a new position in EastGroup Properties during the first quarter valued at $184,000. 95.05% of the stock is owned by hedge funds and other institutional investors.

Shares of EastGroup Properties, Inc. (EGP) opened at 85.57 on Wednesday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 35.86 and a beta of 0.98. EastGroup Properties, Inc. has a one year low of $63.99 and a one year high of $88.12. The company has a 50-day moving average of $84.29 and a 200 day moving average of $78.70.

EastGroup Properties (NYSE:EGP) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.60. EastGroup Properties had a return on equity of 12.05% and a net margin of 30.20%. The company had revenue of $67.90 million during the quarter, compared to the consensus estimate of $67.16 million. During the same quarter last year, the company earned $0.99 earnings per share. EastGroup Properties’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that EastGroup Properties, Inc. will post $2.42 earnings per share for the current fiscal year.

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Several equities analysts have recently weighed in on the stock. Evercore ISI reaffirmed an “underperform” rating and set a $73.00 target price (up from $69.00) on shares of EastGroup Properties in a report on Sunday, April 23rd. Zacks Investment Research lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cantor Fitzgerald reaffirmed a “hold” rating and set a $75.00 target price on shares of EastGroup Properties in a report on Tuesday, July 25th. Mizuho lifted their target price on shares of EastGroup Properties from $80.00 to $88.00 and gave the company a “buy” rating in a report on Monday, April 24th. Finally, Stifel Nicolaus lifted their target price on shares of EastGroup Properties from $73.00 to $78.00 and gave the company a “hold” rating in a report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. EastGroup Properties currently has an average rating of “Hold” and a consensus price target of $78.88.

In other news, Director David H. Hoster II sold 1,259 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $84.00, for a total value of $105,756.00. Following the completion of the transaction, the director now owns 186,130 shares in the company, valued at $15,634,920. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John F. Coleman sold 5,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $80.56, for a total value of $402,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,109 shares of company stock valued at $577,670. Company insiders own 2.90% of the company’s stock.

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.

Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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