Fmr LLC Purchases 21,432 Shares of EastGroup Properties, Inc. (NYSE:EGP)

FMR LLC lifted its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,579,515 shares of the real estate investment trust's stock after buying an additional 21,432 shares during the period. FMR LLC owned approximately 3.19% of EastGroup Properties worth $253,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crowley Wealth Management Inc. purchased a new position in EastGroup Properties during the 4th quarter valued at about $29,000. Canton Hathaway LLC bought a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of 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 buying an additional 302 shares during the period. Principal Securities Inc. raised its holdings in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 84 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of 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 in the last quarter. Institutional investors own 92.14% of the company's stock.

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EastGroup Properties Stock Up 0.9 %

Shares of EastGroup Properties stock traded up $1.43 on Wednesday, reaching $158.17. The company's stock had a trading volume of 359,492 shares, compared to its average volume of 366,959. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61. The firm's fifty day simple moving average is $174.05 and its two-hundred day simple moving average is $171.79. 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 market capitalization of $8.23 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 3.35 and a beta of 0.94.

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 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%. Equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.54%. The ex-dividend date was Monday, March 31st. EastGroup Properties's dividend payout ratio is currently 120.43%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EGP. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price objective for the company. Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and increased their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Evercore ISI reissued an "in-line" rating and issued a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. Finally, KeyCorp restated 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 issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $188.82.

About EastGroup Properties

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.