Charles Schwab Investment Management Inc. Raises Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Charles Schwab Investment Management Inc. grew its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 650,612 shares of the real estate investment trust's stock after buying an additional 10,812 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.31% of EastGroup Properties worth $104,417,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EGP. Canton Hathaway LLC purchased a new position in shares of EastGroup Properties in the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. grew its position 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 worth $58,000 after buying an additional 302 shares during the last quarter. Principal Securities Inc. raised its stake in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after acquiring an additional 84 shares in the last quarter. Versant Capital Management Inc lifted its position in 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 acquiring an additional 95 shares during the last quarter. Finally, Quarry LP acquired a new stake in EastGroup Properties in the third quarter valued at approximately $102,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

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EastGroup Properties Stock Performance

EastGroup Properties stock traded down $4.64 during midday trading on Thursday, hitting $176.41. 314,486 shares of the company were exchanged, compared to its average volume of 325,044. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The firm has a market capitalization of $9.18 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The business has a fifty day simple moving average of $172.72 and a two-hundred day simple moving average of $175.22. 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 (NYSE:EGP - Get Free Report) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) 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%. On average, sell-side analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently announced 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 3.17%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's payout ratio is currently 120.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EGP. KeyCorp reaffirmed a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Raymond James raised EastGroup Properties from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Morgan Stanley cut their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Jefferies Financial Group upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and lifted their target price for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Finally, Robert W. Baird boosted their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $191.65.

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.