Everence Capital Management Inc. Boosts Position in Eastgroup Properties Inc (EGP)

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Everence Capital Management Inc. boosted its holdings in shares of Eastgroup Properties Inc (NYSE:EGP) by 83.1% in the first quarter, HoldingsChannel.com reports. The firm owned 4,980 shares of the real estate investment trust’s stock after buying an additional 2,260 shares during the period. Everence Capital Management Inc.’s holdings in Eastgroup Properties were worth $556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew its stake in Eastgroup Properties by 0.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,412 shares of the real estate investment trust’s stock valued at $1,414,000 after acquiring an additional 113 shares in the last quarter. Shelton Capital Management grew its stake in Eastgroup Properties by 3.3% during the 4th quarter. Shelton Capital Management now owns 3,620 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 114 shares in the last quarter. First Hawaiian Bank grew its stake in Eastgroup Properties by 2.7% during the 4th quarter. First Hawaiian Bank now owns 5,285 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 138 shares in the last quarter. Schnieders Capital Management LLC grew its stake in Eastgroup Properties by 2.3% during the 4th quarter. Schnieders Capital Management LLC now owns 6,462 shares of the real estate investment trust’s stock valued at $592,000 after acquiring an additional 145 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in Eastgroup Properties by 23.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 766 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 94.08% of the company’s stock.

Eastgroup Properties stock opened at $112.49 on Thursday. Eastgroup Properties Inc has a 1-year low of $87.69 and a 1-year high of $116.45. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.02 and a quick ratio of 0.02. The company has a market capitalization of $4.12 billion, a PE ratio of 24.09, a PEG ratio of 4.42 and a beta of 0.84.

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, beating the consensus estimate of $1.18 by $0.02. Eastgroup Properties had a net margin of 26.82% and a return on equity of 9.19%. The business had revenue of $78.79 million during the quarter, compared to analysts’ expectations of $78.83 million. During the same quarter in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Eastgroup Properties Inc will post 4.88 earnings per share for the current fiscal year.

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 shares were sold at an average price of $111.09, for a total value of $1,110,900.00. Following the transaction, the insider now directly owns 99,657 shares in the company, valued at approximately $11,070,896.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

EGP has been the subject of several analyst reports. Zacks Investment Research raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Tuesday, April 9th. SunTrust Banks increased their price target on shares of Eastgroup Properties from $92.00 to $98.00 and gave the company a “hold” rating in a research note on Tuesday, February 19th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Eastgroup Properties presently has a consensus rating of “Hold” and a consensus target price of $101.52.

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Eastgroup Properties Profile

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

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