JPMorgan Chase & Co. Has $168.92 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

JPMorgan Chase & Co. trimmed its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,052,511 shares of the real estate investment trust's stock after selling 20,279 shares during the quarter. JPMorgan Chase & Co. owned about 2.13% of EastGroup Properties worth $168,918,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EGP. Crowley Wealth Management Inc. acquired a new position in shares of EastGroup Properties during the 4th quarter valued at about $29,000. Canton Hathaway LLC bought a new stake in EastGroup Properties during the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in 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 during the last quarter. Principal Securities Inc. raised its position in shares of EastGroup Properties by 18.5% in 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 during the period. Finally, Versant Capital Management Inc raised its position in shares of EastGroup Properties by 18.7% in 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 during the period. 92.14% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

EGP has been the topic of a number of research analyst reports. Robert W. Baird raised their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com downgraded EastGroup Properties from a "hold" rating to a "sell" rating in a research report on Monday, March 31st. Raymond James raised EastGroup Properties from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and raised their target price for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. Finally, Evercore ISI reiterated an "in-line" rating and set a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $190.47.

EastGroup Properties Price Performance

NYSE EGP traded down $5.21 on Friday, reaching $160.59. The company's stock had a trading volume of 831,618 shares, compared to its average volume of 351,593. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. 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 cap of $8.35 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. The business has a 50-day moving average price of $177.24 and a 200 day moving average price of $173.83.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data 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 return on equity of 7.89% and a net margin of 35.57%. Sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 EPS 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 issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's payout ratio is 120.43%.

EastGroup Properties 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.