EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,050 shares of the real estate investment trust's stock after acquiring an additional 12,371 shares during the period. Natixis Advisors LLC owned approximately 0.13% of EastGroup Properties worth $10,440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC grew its holdings in EastGroup Properties by 35.6% during the third quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust's stock worth $2,545,000 after acquiring an additional 3,574 shares during the period. Franklin Resources Inc. grew its holdings in EastGroup Properties by 337.0% during the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock worth $8,728,000 after acquiring an additional 37,863 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in EastGroup Properties by 20.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock worth $261,000 after acquiring an additional 275 shares during the period. Bank of New York Mellon Corp grew its holdings in EastGroup Properties by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust's stock worth $72,610,000 after acquiring an additional 23,626 shares during the period. Finally, BankPlus Trust Department acquired a new position in EastGroup Properties during the fourth quarter worth $1,871,000. Institutional investors and hedge funds own 92.14% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently weighed in on EGP. Evercore ISI restated an "in-line" rating and issued a $185.00 price target (up previously from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. 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 raised their price target on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Jefferies Financial Group upgraded EastGroup Properties from a "hold" rating to a "buy" rating and raised their price target for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Finally, Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $190.47.

EastGroup Properties Trading Down 2.1 %

EGP traded down $3.76 during midday trading on Friday, hitting $173.11. The company's stock had a trading volume of 1,083,623 shares, compared to its average volume of 329,279. 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 firm has a market cap of $9.01 billion, a P/E ratio of 37.23, a PEG ratio of 3.35 and a beta of 0.99. The firm has a 50-day moving average price of $175.44 and a two-hundred day moving average price of $174.84. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate 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, research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is 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.