EastGroup Properties, Inc. (NYSE:EGP) SVP Richard Reid Dunbar Sells 500 Shares

EastGroup Properties, Inc. (NYSE:EGP) SVP Richard Reid Dunbar sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 19th. The shares were sold at an average price of $204.27, for a total value of $102,135.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE EGP opened at $209.65 on Thursday. The firm has a fifty day moving average price of $184.79. EastGroup Properties, Inc. has a 1 year low of $130.93 and a 1 year high of $209.87. The firm has a market cap of $8.53 billion, a P/E ratio of 68.07, a price-to-earnings-growth ratio of 3.91 and a beta of 0.77.

EastGroup Properties (NYSE:EGP) last released its earnings results on Tuesday, October 26th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.72). EastGroup Properties had a net margin of 31.12% and a return on equity of 9.13%. The firm had revenue of $104.60 million during the quarter, compared to analyst estimates of $101.40 million. During the same period in the previous year, the company earned $1.36 earnings per share. EastGroup Properties’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts anticipate that EastGroup Properties, Inc. will post 6.05 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGP. Zimmer Partners LP acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at $76,058,000. FMR LLC boosted its holdings in EastGroup Properties by 237,405.4% in the second quarter. FMR LLC now owns 266,006 shares of the real estate investment trust’s stock valued at $43,744,000 after purchasing an additional 265,894 shares during the last quarter. Scout Investments Inc. purchased a new stake in EastGroup Properties in the third quarter valued at $37,991,000. Invesco Ltd. boosted its holdings in EastGroup Properties by 26.8% in the second quarter. Invesco Ltd. now owns 764,840 shares of the real estate investment trust’s stock valued at $125,778,000 after purchasing an additional 161,872 shares during the last quarter. Finally, Eaton Vance Management boosted its holdings in EastGroup Properties by 11.3% in the third quarter. Eaton Vance Management now owns 1,035,329 shares of the real estate investment trust’s stock valued at $172,992,000 after purchasing an additional 104,885 shares during the last quarter. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

EGP has been the subject of a number of recent research reports. Truist boosted their price objective on shares of EastGroup Properties from $152.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, August 23rd. Wells Fargo & Company boosted their price objective on shares of EastGroup Properties from $175.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Friday, November 19th. Robert W. Baird reissued a “neutral” rating on shares of EastGroup Properties in a research note on Monday, September 6th. Evercore ISI reissued a “hold” rating and issued a $164.00 price objective on shares of EastGroup Properties in a research note on Friday, October 8th. Finally, Zacks Investment Research raised EastGroup Properties from a “hold” rating to a “buy” rating and set a $231.00 price target on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $190.20.

About EastGroup Properties

EastGroup Properties, Inc is an equity real estate investment trust, which engages in the development, acquisition and operation of industrial properties in the United States. It operates through Industrial Properties segment. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina.

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