Johnson Investment Counsel Inc. Has $558,000 Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Johnson Investment Counsel Inc. lessened its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,476 shares of the real estate investment trust's stock after selling 2,964 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in EastGroup Properties were worth $558,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in EGP. State Street Corp boosted its stake in shares of EastGroup Properties by 2.1% during the 3rd quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust's stock worth $456,872,000 after buying an additional 49,268 shares during the last quarter. FMR LLC raised its holdings in EastGroup Properties by 67.9% during the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock worth $291,081,000 after acquiring an additional 629,827 shares in the last quarter. Geode Capital Management LLC boosted its position in EastGroup Properties by 1.2% during the third quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust's stock valued at $168,032,000 after purchasing an additional 10,435 shares during the last quarter. Raymond James Financial Inc. bought a new position in EastGroup Properties in the fourth quarter valued at approximately $116,756,000. Finally, Daiwa Securities Group Inc. increased its position in shares of EastGroup Properties by 210.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust's stock worth $113,584,000 after purchasing an additional 479,873 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EGP shares. Robert W. Baird increased their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target for the company. Morgan Stanley decreased their price objective on shares of 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. Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and upped their target price for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. Finally, Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $191.65.

EastGroup Properties Stock Performance

EGP stock traded down $4.64 during trading hours on Thursday, hitting $176.41. 469,112 shares of the stock were exchanged, compared to its average volume of 325,498. The company has a 50-day simple moving average of $172.72 and a two-hundred day simple moving average of $175.22. The firm has a market capitalization of $9.18 billion, a P/E ratio of 37.94, a P/E/G ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 12 month low of $155.10 and a 12 month 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.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. On average, analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, March 31st. EastGroup Properties's dividend payout ratio is currently 120.43%.

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.