10,100 Shares in EastGroup Properties, Inc. (NYSE:EGP) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,100 shares of the real estate investment trust's stock, valued at approximately $1,633,000.

A number of other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in EastGroup Properties in the 3rd quarter valued at $206,000. Cerity Partners LLC raised its holdings in shares of EastGroup Properties by 35.6% in the third quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust's stock valued at $2,545,000 after buying an additional 3,574 shares during the last quarter. Bank of Montreal Can lifted its position in EastGroup Properties by 11.9% during the 3rd quarter. Bank of Montreal Can now owns 13,061 shares of the real estate investment trust's stock worth $2,451,000 after buying an additional 1,392 shares in the last quarter. FMR LLC grew its holdings in EastGroup Properties by 67.9% during the 3rd 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 during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in EastGroup Properties by 36.8% during the 3rd quarter. D.A. Davidson & CO. now owns 1,674 shares of the real estate investment trust's stock worth $313,000 after acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EGP shares. Robert W. Baird upped their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. KeyCorp reaffirmed a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and lifted their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Morgan Stanley cut their price target on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Finally, Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.47.

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EastGroup Properties Trading Down 0.2 %

EastGroup Properties stock traded down $0.32 during mid-day trading on Wednesday, hitting $175.77. 351,829 shares of the company's stock were exchanged, compared to its average volume of 347,106. The company's 50 day simple moving average is $177.49 and its 200-day simple moving average is $174.32. 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 firm has a market capitalization of $9.14 billion, a P/E ratio of 37.80, a PEG 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.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results 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 anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business 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 dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's dividend payout ratio is 120.43%.

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.