Vestcor Inc purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,782 shares of the real estate investment trust's stock, valued at approximately $2,051,000.
A number of other large investors have also made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in EastGroup Properties by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock valued at $234,000 after acquiring an additional 72 shares during the last quarter. Principal Securities Inc. lifted its holdings in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 84 shares during the last quarter. Versant Capital Management Inc lifted its holdings in EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after acquiring an additional 95 shares during the last quarter. waypoint wealth counsel lifted its holdings in EastGroup Properties by 1.9% in the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after acquiring an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in EastGroup Properties by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust's stock valued at $1,612,000 after acquiring an additional 100 shares during the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently commented on the company. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Morgan Stanley decreased their price objective on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Robert W. Baird upped their price target on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Evercore ISI restated an "in-line" rating and set a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a "buy" rating and a $180.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $190.47.
Read Our Latest Stock Analysis on EGP
EastGroup Properties Stock Down 1.2 %
Shares of NYSE EGP traded down $2.20 during mid-day trading on Tuesday, hitting $179.36. The company had a trading volume of 389,191 shares, compared to its average volume of 323,793. The company has a market capitalization of $9.33 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The business's 50-day simple moving average is $174.32 and its 200 day simple moving average is $174.97.
EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.
EastGroup Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is presently 120.43%.
EastGroup Properties Profile
(
Free Report)
EastGroup Properties, Inc NYSE: EGP, a member of the S&P Mid-Cap 400 and Russell 1000 Indexes, 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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