Ausbil Investment Management Ltd boosted its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 116.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,550 shares of the real estate investment trust's stock after purchasing an additional 7,813 shares during the quarter. EastGroup Properties comprises about 1.4% of Ausbil Investment Management Ltd's portfolio, making the stock its 26th biggest holding. Ausbil Investment Management Ltd's holdings in EastGroup Properties were worth $2,342,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its holdings in EastGroup Properties by 35.6% in the 3rd quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust's stock worth $2,545,000 after purchasing an additional 3,574 shares in the last quarter. Franklin Resources Inc. grew its position in shares of EastGroup Properties by 337.0% in the 3rd quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock valued at $8,728,000 after buying an additional 37,863 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of EastGroup Properties by 20.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock valued at $261,000 after buying an additional 275 shares during the last quarter. Nordea Investment Management AB grew its position in shares of EastGroup Properties by 6.1% in the 4th quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock valued at $11,667,000 after buying an additional 4,176 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of EastGroup Properties in the 3rd quarter valued at about $1,223,000. 92.14% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on EGP shares. Raymond James raised EastGroup Properties from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and increased their price objective for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. Barclays reduced their price objective on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Finally, StockNews.com lowered EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $190.88.
Get Our Latest Report on EastGroup Properties
EastGroup Properties Stock Performance
NYSE EGP traded up $1.18 on Wednesday, reaching $172.45. 151,730 shares of the company's stock traded hands, compared to its average volume of 367,873. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 35.63, a P/E/G ratio of 3.16 and a beta of 1.00. The stock has a 50 day moving average price of $165.59 and a 200-day moving average price of $175.91. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08.
EastGroup Properties Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.25%. EastGroup Properties's dividend payout ratio (DPR) is presently 115.70%.
About EastGroup Properties
(
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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