Public Employees Retirement System of Ohio Has $4.97 Million Stock Position in Eastgroup Properties Inc (NYSE:EGP)

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Public Employees Retirement System of Ohio grew its holdings in Eastgroup Properties Inc (NYSE:EGP) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 39,762 shares of the real estate investment trust’s stock after buying an additional 614 shares during the period. Public Employees Retirement System of Ohio’s holdings in Eastgroup Properties were worth $4,971,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the company. Strategic Blueprint LLC bought a new position in Eastgroup Properties during the third quarter worth about $25,000. Point72 Hong Kong Ltd bought a new stake in Eastgroup Properties in the 2nd quarter valued at about $37,000. Quest Capital Management Inc. ADV bought a new stake in Eastgroup Properties in the 3rd quarter valued at about $49,000. Tower Research Capital LLC TRC grew its position in shares of Eastgroup Properties by 1,773.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 562 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 532 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Eastgroup Properties during the 2nd quarter worth approximately $81,000. 90.86% of the stock is owned by institutional investors.

Shares of Eastgroup Properties stock opened at $135.71 on Wednesday. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 6.21 and a beta of 0.76. Eastgroup Properties Inc has a 12-month low of $87.69 and a 12-month high of $138.15. The firm’s 50-day moving average price is $132.08 and its two-hundred day moving average price is $123.06.

Eastgroup Properties (NYSE:EGP) last released its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.60 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.65). Eastgroup Properties had a net margin of 28.07% and a return on equity of 9.16%. The firm had revenue of $83.94 million during the quarter, compared to the consensus estimate of $83.24 million. During the same period in the prior year, the business earned $1.17 earnings per share. Eastgroup Properties’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts forecast that Eastgroup Properties Inc will post 4.96 earnings per share for the current year.

In other news, Director David H. Hoster II sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $132.84, for a total transaction of $797,040.00. Following the completion of the sale, the director now owns 167,646 shares of the company’s stock, valued at approximately $22,270,094.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

A number of research firms have recently weighed in on EGP. Stifel Nicolaus set a $145.00 price target on shares of Eastgroup Properties and gave the company a “buy” rating in a research report on Friday, October 25th. Citigroup boosted their price target on Eastgroup Properties from $109.00 to $129.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Morgan Stanley increased their price target on Eastgroup Properties from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. SunTrust Banks raised their price objective on Eastgroup Properties from $105.00 to $115.00 and gave the stock a “hold” rating in a research note on Tuesday, August 13th. Finally, ValuEngine cut Eastgroup Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $123.87.

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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Want to see what other hedge funds are holding EGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastgroup Properties Inc (NYSE:EGP).

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

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