Proficio Capital Partners LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 24,715 shares of the real estate investment trust's stock, valued at approximately $3,967,000.
Other hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC raised its holdings in EastGroup Properties by 31.3% during the 3rd quarter. Metis Global Partners LLC now owns 5,008 shares of the real estate investment trust's stock worth $936,000 after purchasing an additional 1,193 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of EastGroup Properties by 13.6% in the 3rd quarter. Natixis Advisors LLC now owns 52,679 shares of the real estate investment trust's stock valued at $9,842,000 after acquiring an additional 6,307 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of EastGroup Properties by 1.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 153,736 shares of the real estate investment trust's stock valued at $28,721,000 after acquiring an additional 2,633 shares in the last quarter. Quest Partners LLC increased its stake in shares of EastGroup Properties by 3,258.6% in the 3rd quarter. Quest Partners LLC now owns 7,053 shares of the real estate investment trust's stock valued at $1,318,000 after acquiring an additional 6,843 shares in the last quarter. Finally, OneAscent Wealth Management LLC bought a new stake in shares of EastGroup Properties in the 3rd quarter valued at $399,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.
EastGroup Properties Trading Down 2.1 %
Shares of NYSE:EGP traded down $3.76 during trading on Friday, reaching $173.11. 1,070,430 shares of the company traded hands, compared to its average volume of 328,634. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 3.35 and a beta of 0.99. The business's fifty day moving average is $175.09 and its 200-day moving average is $175.01. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61.
EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.
EastGroup Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued 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 3.23%. EastGroup Properties's dividend payout ratio (DPR) is 120.43%.
Analysts Set New Price Targets
Several analysts have recently weighed in on EGP shares. Raymond James upgraded shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $185.00 to $200.00 in a research note on Wednesday, December 11th. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and lifted their price target for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Robert W. Baird lifted their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $190.47.
Read Our Latest Stock Report on EGP
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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