EastGroup Properties, Inc. (EGP) Stake Held by Usca Ria LLC
Usca Ria LLC held its position in EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,100 shares of the real estate investment trust’s stock at the end of the second quarter. Usca Ria LLC’s holdings in EastGroup Properties were worth $260,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of EastGroup Properties during the fourth quarter worth about $222,000. Teachers Advisors LLC increased its stake in shares of EastGroup Properties by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 57,247 shares of the real estate investment trust’s stock worth $4,227,000 after buying an additional 1,257 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of EastGroup Properties during the first quarter worth about $662,000. Glen Harbor Capital Management LLC increased its stake in shares of 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 worth $129,000 after buying an additional 88 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of EastGroup Properties by 1.6% in the first quarter. Russell Investments Group Ltd. now owns 46,146 shares of the real estate investment trust’s stock worth $3,393,000 after buying an additional 711 shares during the period. 97.98% of the stock is owned by institutional investors and hedge funds.
Shares of EastGroup Properties, Inc. (NYSE:EGP) opened at 86.14 on Wednesday. EastGroup Properties, Inc. has a 12 month low of $63.99 and a 12 month high of $88.12. The firm has a 50-day moving average price of $84.88 and a 200 day moving average price of $79.48. The company has a market cap of $2.94 billion, a P/E ratio of 36.10 and a beta of 0.98.
EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.60. The company had revenue of $67.90 million during the quarter, compared to analyst estimates of $67.16 million. EastGroup Properties had a return on equity of 12.05% and a net margin of 30.20%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. Equities analysts predict that EastGroup Properties, Inc. will post $2.42 earnings per share for the current year.
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EGP has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $85.00 price target on shares of EastGroup Properties in a research report on Friday, July 28th. Zacks Investment Research upgraded EastGroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Tuesday, July 11th. Cantor Fitzgerald reiterated a “hold” rating and set a $75.00 price target on shares of EastGroup Properties in a research report on Tuesday, July 25th. BidaskClub downgraded EastGroup Properties from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, KeyCorp reiterated a “neutral” rating on shares of EastGroup Properties in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. EastGroup Properties has a consensus rating of “Hold” and an average price target of $80.78.
In other EastGroup Properties news, Director David H. Hoster II sold 1,259 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $84.00, for a total transaction of $105,756.00. Following the transaction, the director now directly owns 186,130 shares in the company, valued at $15,634,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.90% of the company’s stock.
About EastGroup Properties
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.
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