Teachers Advisors LLC Purchases 748 Shares of EastGroup Properties, Inc. (EGP)
Teachers Advisors LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,825 shares of the real estate investment trust’s stock after acquiring an additional 748 shares during the period. Teachers Advisors LLC owned 0.18% of EastGroup Properties worth $5,013,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of EGP. UBS Asset Management Americas Inc. boosted its holdings in EastGroup Properties by 25.8% in the first quarter. UBS Asset Management Americas Inc. now owns 63,730 shares of the real estate investment trust’s stock valued at $4,686,000 after acquiring an additional 13,063 shares during the last quarter. Karp Capital Management Corp bought a new position in EastGroup Properties in the first quarter valued at about $569,000. Parametric Portfolio Associates LLC boosted its holdings in EastGroup Properties by 1.9% in the first quarter. Parametric Portfolio Associates LLC now owns 57,383 shares of the real estate investment trust’s stock valued at $4,219,000 after acquiring an additional 1,089 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in EastGroup Properties by 8.9% in the first quarter. Mason Street Advisors LLC now owns 7,790 shares of the real estate investment trust’s stock valued at $573,000 after acquiring an additional 635 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in EastGroup Properties in the first quarter valued at about $206,000. Institutional investors and hedge funds own 96.42% of the company’s stock.
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EastGroup Properties, Inc. (EGP) opened at 90.28 on Wednesday. The firm’s 50-day moving average price is $88.87 and its 200-day moving average price is $83.37. EastGroup Properties, Inc. has a one year low of $63.99 and a one year high of $91.51. The company has a market cap of $3.08 billion, a PE ratio of 37.84 and a beta of 0.98.
EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.60. The company had revenue of $67.90 million during the quarter, compared to analysts’ expectations of $67.16 million. EastGroup Properties had a return on equity of 12.05% and a net margin of 30.20%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. On average, equities research analysts forecast that EastGroup Properties, Inc. will post $2.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.64 dividend. This is a boost from EastGroup Properties’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, September 14th. This represents a $2.56 annualized dividend and a dividend yield of 2.84%. EastGroup Properties’s dividend payout ratio is presently 108.02%.
Several equities analysts recently issued reports on the company. KeyCorp reiterated a “neutral” rating on shares of EastGroup Properties in a report on Friday, August 25th. ValuEngine upgraded EastGroup Properties from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Sandler O’Neill upgraded EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $90.00 to $104.00 in a report on Tuesday, September 5th. Zacks Investment Research cut EastGroup Properties from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Bank of America Corporation upgraded EastGroup Properties from a “neutral” rating to a “buy” rating and raised their price target for the company from $91.00 to $96.00 in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. EastGroup Properties currently has an average rating of “Hold” and an average target price of $83.90.
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.
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