New York State Teachers Retirement System grew its position in Eastgroup Properties Inc (NYSE:EGP) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,420 shares of the real estate investment trust’s stock after purchasing an additional 224 shares during the quarter. New York State Teachers Retirement System owned approximately 0.25% of Eastgroup Properties worth $10,318,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc lifted its position in Eastgroup Properties by 2.2% during the third quarter. Vanguard Group Inc now owns 5,502,403 shares of the real estate investment trust’s stock valued at $526,140,000 after buying an additional 116,567 shares during the period. JPMorgan Chase & Co. raised its position in shares of Eastgroup Properties by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,450,207 shares of the real estate investment trust’s stock worth $234,289,000 after purchasing an additional 75,453 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Eastgroup Properties by 19.5% in the 4th quarter. Macquarie Group Ltd. now owns 674,957 shares of the real estate investment trust’s stock worth $61,914,000 after purchasing an additional 109,969 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Eastgroup Properties by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 548,940 shares of the real estate investment trust’s stock worth $50,353,000 after purchasing an additional 13,551 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Eastgroup Properties by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 518,819 shares of the real estate investment trust’s stock worth $47,590,000 after purchasing an additional 4,751 shares during the last quarter. 94.38% of the stock is currently owned by institutional investors.
In other news, insider John F. Coleman sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $111.09, for a total transaction of $1,110,900.00. Following the sale, the insider now directly owns 99,657 shares of the company’s stock, valued at approximately $11,070,896.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David H. Hoster II sold 942 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $110.83, for a total value of $104,401.86. Following the sale, the director now owns 174,588 shares in the company, valued at approximately $19,349,588.04. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Shares of NYSE:EGP traded down $0.46 during mid-day trading on Friday, reaching $115.41. 257,057 shares of the company traded hands, compared to its average volume of 282,352. Eastgroup Properties Inc has a 52 week low of $87.69 and a 52 week high of $116.45. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 1.22. The company has a market cap of $4.25 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 4.55 and a beta of 0.82.
Eastgroup Properties (NYSE:EGP) last posted its quarterly earnings results on Monday, April 22nd. The real estate investment trust reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.02. Eastgroup Properties had a return on equity of 9.19% and a net margin of 26.82%. The business had revenue of $78.79 million during the quarter, compared to the consensus estimate of $78.83 million. During the same period in the prior year, the company posted $1.16 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts predict that Eastgroup Properties Inc will post 4.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.88 annualized dividend and a yield of 2.50%. Eastgroup Properties’s payout ratio is 61.67%.
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About Eastgroup Properties
EastGroup Properties, Inc is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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