Strs Ohio Acquires 20,020 Shares of EastGroup Properties, Inc. $EGP

Strs Ohio lifted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 15.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 152,095 shares of the real estate investment trust’s stock after purchasing an additional 20,020 shares during the quarter. Strs Ohio’s holdings in EastGroup Properties were worth $25,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC grew its stake in EastGroup Properties by 159.7% during the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 99 shares in the last quarter. State of Wyoming acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of EastGroup Properties during the 3rd quarter worth approximately $34,000. Mather Group LLC. acquired a new stake in shares of EastGroup Properties during the 3rd quarter worth approximately $35,000. Finally, Canton Hathaway LLC boosted its position in shares of EastGroup Properties by 31.6% during the 3rd quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on EGP shares. Cantor Fitzgerald restated an “overweight” rating on shares of EastGroup Properties in a research report on Tuesday. Morgan Stanley set a $205.00 price target on EastGroup Properties in a research note on Friday, January 16th. Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 4th. BNP Paribas Exane raised EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price objective on the stock in a research note on Monday, October 27th. Finally, Robert W. Baird set a $200.00 target price on EastGroup Properties in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.19.

Insider Activity

In related news, EVP Richard Reid Dunbar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the completion of the transaction, the executive vice president owned 20,630 shares in the company, valued at $3,610,250. This trade represents a 8.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

EastGroup Properties Stock Up 0.6%

Shares of EGP opened at $181.11 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.01 and a current ratio of 0.01. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $188.89. The stock has a market capitalization of $9.66 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 2.64 and a beta of 1.11. The stock has a fifty day moving average of $181.51 and a 200-day moving average of $173.42.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, October 23rd. The real estate investment trust reported $2.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.01). The firm had revenue of $182.14 million during the quarter, compared to analyst estimates of $181.88 million. EastGroup Properties had a return on equity of 7.28% and a net margin of 35.58%.EastGroup Properties’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.13 EPS. As a group, sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s payout ratio is 130.25%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.