12,782 Shares in EastGroup Properties, Inc. (NYSE:EGP) Acquired by Vestcor Inc

Vestcor Inc bought a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 12,782 shares of the real estate investment trust's stock, valued at approximately $2,051,000.

Other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in EastGroup Properties in the 4th quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Principal Securities Inc. grew its position in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 84 shares in the last quarter. Versant Capital Management Inc grew its position in shares of EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after purchasing an additional 95 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of EastGroup Properties during the third quarter valued at about $102,000. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Trading Up 0.9 %

Shares of EastGroup Properties stock traded up $1.62 on Monday, hitting $181.54. 170,438 shares of the company traded hands, compared to its average volume of 322,429. The stock's 50 day moving average price is $173.46 and its 200-day moving average price is $175.03. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a market cap of $9.44 billion, a PE ratio of 39.04, a PEG ratio of 3.35 and a beta of 0.99.

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EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's dividend payout ratio is presently 120.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EGP. Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Evercore ISI restated an "in-line" rating and set a $185.00 price objective (up previously from $181.00) on shares of EastGroup Properties in a research report on Monday. StockNews.com upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Morgan Stanley dropped their price target on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $190.47.

EastGroup Properties Company Profile

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.