1,758 Shares in EastGroup Properties, Inc. (NYSE:EGP) Bought by First American Trust FSB

First American Trust FSB purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,758 shares of the real estate investment trust's stock, valued at approximately $282,000.

Other hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new stake in EastGroup Properties during the 4th quarter valued at $29,000. Canton Hathaway LLC bought a new stake in shares of EastGroup Properties during the fourth quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. lifted 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 worth $58,000 after purchasing an additional 302 shares during the period. Principal Securities Inc. grew its position in EastGroup Properties by 18.5% in the 4th 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. Finally, Quarry LP acquired a new position in EastGroup Properties during the 3rd quarter valued at about $102,000. Institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on EGP. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. 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 note on Wednesday, December 11th. Morgan Stanley lowered their target price on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Robert W. Baird upped their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $190.47.

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EastGroup Properties Stock Down 0.3 %

NYSE EGP traded down $0.62 during trading on Friday, reaching $176.19. 411,188 shares of the company's stock were exchanged, compared to its average volume of 344,338. The firm has a market capitalization of $9.17 billion, a PE ratio of 37.89, a P/E/G ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two 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 company's fifty day simple moving average is $176.92 and its 200-day simple moving average is $174.51.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Sell-side analysts predict 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. Shareholders of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, March 31st. EastGroup Properties's payout ratio is currently 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.