Eastgroup Properties Inc (EGP) : Pensionfund Sabic reduced its stake in Eastgroup Properties Inc by 15.34% during the most recent quarter end. The investment management company now holds a total of 13,122 shares of Eastgroup Properties Inc which is valued at $902,006 after selling 2,378 shares in Eastgroup Properties Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Eastgroup Properties Inc makes up approximately 0.28% of Pensionfund Sabic’s portfolio.
Other Hedge Funds, Including , Capstone Asset Management Co reduced its stake in EGP by selling 170 shares or 1.61% in the most recent quarter. The Hedge Fund company now holds 10,373 shares of EGP which is valued at $713,040. Eastgroup Properties Inc makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Cutler Group Lp sold out all of its stake in EGP during the most recent quarter. The investment firm sold 139 shares of EGP which is valued $9,610.First Mercantile Trust Co reduced its stake in EGP by selling 150 shares or 7.81% in the most recent quarter. The Hedge Fund company now holds 1,770 shares of EGP which is valued at $120,944. Eastgroup Properties Inc makes up approx 0.02% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in EGP by selling 5,109 shares or 50.3% in the most recent quarter. The Hedge Fund company now holds 5,049 shares of EGP which is valued at $348,381.
Eastgroup Properties Inc closed down -0.4 points or -0.58% at $68.74 with 1,53,974 shares getting traded on Tuesday. Post opening the session at $69.04, the shares hit an intraday low of $68.495 and an intraday high of $69.24 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, Eastgroup Properties Inc reported $0.99 EPS for the quarter, based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus estimate of $0.99. The company had revenue of $61.92 million for the quarter, compared to analysts expectations of $61.40 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.
Many Wall Street Analysts have commented on Eastgroup Properties Inc. Mizuho Initiated Eastgroup Properties Inc on Sep 28, 2016 to “Buy”, Price Target of the shares are set at $83.Eastgroup Properties Inc was Resumed by Morgan Stanley to “Underweight” on Sep 6, 2016. Eastgroup Properties Inc was Downgraded by Stifel to ” Hold” on Jul 22, 2016.
EastGroup Properties Inc. (EastGroup) is an equity real estate investment trust (REIT). The Company is focused on the development acquisition and operation of industrial properties in Sunbelt markets throughout the United States. EastGroup holds its properties as long-term investments. The Company owns approximately 307 industrial properties and one office building. These properties are located in the Sunbelt states of Florida Texas Arizona California and North Carolina. EastGroup’s portfolio is approximately 96.3% leased and 96.0% occupied. The Company has developed approximately 37% of its total portfolio (on a square foot basis) including real estate properties and development properties in lease-up and under construction. The Company’s focus is the ownership of business distribution space (80% of the total portfolio) with the remainder in bulk distribution space (16%) and business service space (4%).