Vestcor Inc purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,782 shares of the real estate investment trust's stock, valued at approximately $2,051,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new position in EastGroup Properties during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of EastGroup Properties by 503.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock valued at $58,000 after buying an additional 302 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 84 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 95 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of EastGroup Properties in the 3rd quarter valued at $102,000. Institutional investors and hedge funds own 92.14% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on EGP shares. Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price for the company. Raymond James upgraded shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $185.00 to $200.00 in a report on Wednesday, December 11th. Robert W. Baird upped their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Finally, Truist Financial increased their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a "hold" rating in a research note on Friday, February 14th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus target price of $190.47.
Check Out Our Latest Analysis on EastGroup Properties
EastGroup Properties Stock Performance
EastGroup Properties stock traded down $1.35 during trading hours on Tuesday, reaching $180.21. 77,858 shares of the stock were exchanged, compared to its average volume of 322,570. The stock has a market cap of $9.37 billion, a P/E ratio of 38.74, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61. The firm's 50 day moving average is $173.91 and its 200 day moving average is $175.01.
EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.
EastGroup Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.40 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.11%. EastGroup Properties's payout ratio is 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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