Thrivent Financial for Lutherans Sells 66,461 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Thrivent Financial for Lutherans decreased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 43.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,275 shares of the real estate investment trust's stock after selling 66,461 shares during the quarter. Thrivent Financial for Lutherans owned 0.18% of EastGroup Properties worth $14,007,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EGP. Cibc World Markets Corp lifted its holdings in shares of EastGroup Properties by 11.7% during the 4th quarter. Cibc World Markets Corp now owns 14,365 shares of the real estate investment trust's stock worth $2,305,000 after acquiring an additional 1,508 shares during the period. Corient Private Wealth LLC lifted its stake in EastGroup Properties by 2.6% during the fourth quarter. Corient Private Wealth LLC now owns 12,400 shares of the real estate investment trust's stock worth $1,990,000 after purchasing an additional 314 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of EastGroup Properties by 23.5% in the 4th quarter. Natixis Advisors LLC now owns 65,050 shares of the real estate investment trust's stock valued at $10,440,000 after purchasing an additional 12,371 shares in the last quarter. Vestcor Inc bought a new position in shares of EastGroup Properties in the 4th quarter valued at $2,051,000. Finally, Swiss National Bank increased its stake in shares of EastGroup Properties by 2.0% in the 4th quarter. Swiss National Bank now owns 95,887 shares of the real estate investment trust's stock valued at $15,389,000 after purchasing an additional 1,900 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

EastGroup Properties Stock Up 1.5 %

NYSE:EGP traded up $2.56 on Wednesday, hitting $177.76. The stock had a trading volume of 566,581 shares, compared to its average volume of 332,186. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The business's fifty day moving average is $176.05 and its 200 day moving average is $174.62. The company has a market cap of $9.25 billion, a PE ratio of 38.23, a P/E/G ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Monday, March 31st. EastGroup Properties's payout ratio is presently 120.43%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Robert W. Baird upped their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Finally, Evercore ISI restated 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. Nine 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.47.

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.