Assetmark Inc. Has $121,000 Stake in Eastgroup Properties Inc (EGP)

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Assetmark Inc. increased its position in shares of Eastgroup Properties Inc (NYSE:EGP) by 312.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,465 shares of the real estate investment trust’s stock after buying an additional 1,110 shares during the quarter. Assetmark Inc.’s holdings in Eastgroup Properties were worth $121,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. raised its position in shares of Eastgroup Properties by 92.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 49,821 shares of the real estate investment trust’s stock valued at $4,119,000 after buying an additional 23,940 shares during the period. Earnest Partners LLC raised its position in shares of Eastgroup Properties by 6.5% during the 1st quarter. Earnest Partners LLC now owns 865,634 shares of the real estate investment trust’s stock valued at $71,553,000 after buying an additional 53,010 shares during the period. Jane Street Group LLC purchased a new stake in shares of Eastgroup Properties during the 1st quarter valued at approximately $299,000. United Capital Financial Advisers LLC raised its position in shares of Eastgroup Properties by 11.9% during the 1st quarter. United Capital Financial Advisers LLC now owns 12,151 shares of the real estate investment trust’s stock valued at $1,004,000 after buying an additional 1,292 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its position in shares of Eastgroup Properties by 1.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 947,433 shares of the real estate investment trust’s stock valued at $78,315,000 after buying an additional 10,887 shares during the period. 93.71% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on EGP shares. ValuEngine raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, April 24th. Zacks Investment Research raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Tuesday, April 3rd. Finally, Stifel Nicolaus raised shares of Eastgroup Properties from a “hold” rating to a “buy” rating and lifted their price target for the company from $93.00 to $103.00 in a research report on Thursday, May 31st. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $92.00.

Eastgroup Properties opened at $94.76 on Friday, MarketBeat Ratings reports. Eastgroup Properties Inc has a fifty-two week low of $77.74 and a fifty-two week high of $96.30. The company has a market capitalization of $3.28 billion, a P/E ratio of 22.24, a P/E/G ratio of 3.94 and a beta of 0.92.

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, beating 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 firm had revenue of $72.20 million during the quarter, compared to the consensus estimate of $71.62 million. During the same quarter last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities analysts expect that Eastgroup Properties Inc will post 4.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Wednesday, June 20th will be issued a $0.64 dividend. The ex-dividend date is Tuesday, June 19th. This represents a $2.56 annualized dividend and a yield of 2.70%. Eastgroup Properties’s dividend payout ratio (DPR) is presently 60.09%.

In other Eastgroup Properties news, Director David H. Hoster II sold 1,032 shares of the business’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $93.38, for a total value of $96,368.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Coleman sold 6,000 shares of the business’s stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $85.42, for a total transaction of $512,520.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Eastgroup Properties Company 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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