Virginia Retirement Systems ET AL Buys New Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Virginia Retirement Systems ET AL acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,500 shares of the real estate investment trust’s stock, valued at approximately $3,265,000. Virginia Retirement Systems ET AL owned approximately 0.11% of EastGroup Properties at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new position in shares of EastGroup Properties during the fourth quarter valued at about $148,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of EastGroup Properties during the first quarter valued at about $207,000. MML Investors Services LLC acquired a new position in shares of EastGroup Properties during the fourth quarter valued at about $218,000. Vident Investment Advisory LLC acquired a new position in shares of EastGroup Properties during the fourth quarter valued at about $229,000. Finally, Connable Office Inc. acquired a new position in EastGroup Properties in the fourth quarter worth about $258,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

In other EastGroup Properties news, insider John F. Coleman sold 6,000 shares of EastGroup Properties stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $85.42, for a total value of $512,520.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

Several research firms recently issued reports on EGP. ValuEngine lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Zacks Investment Research cut shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. SunTrust Banks raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. Mizuho reaffirmed a “hold” rating and set a $90.00 price objective on shares of EastGroup Properties in a research note on Sunday, February 4th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $95.00 price objective on shares of EastGroup Properties in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. EastGroup Properties presently has an average rating of “Hold” and a consensus price target of $90.20.

EGP traded up $0.02 during mid-day trading on Friday, hitting $88.85. The stock had a trading volume of 7,267 shares, compared to its average volume of 230,509. The firm has a market cap of $3.13 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 3.75 and a beta of 0.89. EastGroup Properties, Inc. has a 1-year low of $89.73 and a 1-year high of $90.85.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, April 19th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. EastGroup Properties had a net margin of 35.36% and a return on equity of 13.33%. The company had revenue of $72.20 million for the quarter, compared to analyst estimates of $71.62 million. During the same period last year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. research analysts forecast that EastGroup Properties, Inc. will post 4.56 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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