BankPlus Trust Department Purchases New Shares in EastGroup Properties, Inc. (NYSE:EGP)

BankPlus Trust Department bought a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,660 shares of the real estate investment trust's stock, valued at approximately $1,871,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Creative Planning grew its holdings in shares of EastGroup Properties by 4.8% during the third quarter. Creative Planning now owns 2,555 shares of the real estate investment trust's stock worth $477,000 after purchasing an additional 117 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in EastGroup Properties by 22.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,275 shares of the real estate investment trust's stock worth $799,000 after buying an additional 794 shares during the period. IFM Investors Pty Ltd boosted its position in EastGroup Properties by 1.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,238 shares of the real estate investment trust's stock worth $2,099,000 after buying an additional 132 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in EastGroup Properties by 35.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,869 shares of the real estate investment trust's stock worth $351,000 after acquiring an additional 488 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in EastGroup Properties by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust's stock valued at $252,000 after acquiring an additional 90 shares during the period. Institutional investors own 92.14% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EGP. Robert W. Baird boosted their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Wells Fargo & Company cut their target price on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and increased their price target for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price objective on the stock. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $191.65.

EastGroup Properties Stock Up 0.6 %

Shares of EGP stock traded up $1.09 on Thursday, reaching $179.96. 365,738 shares of the company were exchanged, compared to its average volume of 422,883. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The company has a 50-day moving average of $168.67 and a 200-day moving average of $175.24. The company has a market cap of $9.36 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 3.35 and a beta of 1.00. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61.

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, topping 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%. Analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.11%. EastGroup Properties's dividend payout ratio (DPR) is presently 120.43%.

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.