Cibc World Markets Corp boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,365 shares of the real estate investment trust's stock after buying an additional 1,508 shares during the quarter. Cibc World Markets Corp's holdings in EastGroup Properties were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in EastGroup Properties by 503.3% in 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. increased 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 buying an additional 84 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock worth $97,000 after buying an additional 95 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of EastGroup Properties in the 3rd quarter worth about $102,000. 92.14% of the stock is owned by hedge funds and other institutional investors.
EastGroup Properties Trading Down 0.6 %
Shares of NYSE EGP traded down $1.08 during trading on Tuesday, hitting $175.28. 500,631 shares of the company traded hands, compared to its average volume of 329,896. The firm has a market capitalization of $9.12 billion, a P/E ratio of 37.69, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $175.79 and a 200-day moving average price of $174.69. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61.
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 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 analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.
EastGroup Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Monday, March 31st. EastGroup Properties's payout ratio is currently 120.43%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on EGP shares. 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 report on Thursday, January 2nd. Truist Financial upped their target price on EastGroup Properties from $168.00 to $180.00 and gave the company a "hold" rating in a research note on Friday, February 14th. Morgan Stanley dropped their price target on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Robert W. Baird upped their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $190.47.
Read Our Latest Stock Report on EGP
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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