OneAscent Financial Services LLC bought a new position 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 bought 2,431 shares of the real estate investment trust's stock, valued at approximately $390,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in EastGroup Properties by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 914,532 shares of the real estate investment trust's stock valued at $146,816,000 after buying an additional 15,313 shares during the period. Wellington Management Group LLP boosted its position in shares of EastGroup Properties by 44.2% during the fourth quarter. Wellington Management Group LLP now owns 253,796 shares of the real estate investment trust's stock worth $40,732,000 after acquiring an additional 77,800 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in EastGroup Properties during the 4th quarter valued at approximately $3,551,000. California Public Employees Retirement System grew its holdings in shares of EastGroup Properties by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 81,270 shares of the real estate investment trust's stock valued at $13,043,000 after purchasing an additional 690 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of EastGroup Properties by 1.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,551 shares of the real estate investment trust's stock worth $2,496,000 after buying an additional 155 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.
EastGroup Properties Stock Performance
EGP traded up $11.13 during midday trading on Wednesday, hitting $156.41. 1,833,754 shares of the company were exchanged, compared to its average volume of 362,213. The company's 50 day simple moving average is $175.35 and its 200 day simple moving average is $172.72. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year 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 posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.
EastGroup Properties Dividend Announcement
The company 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 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, March 31st. EastGroup Properties's payout ratio is 120.43%.
Analyst Ratings Changes
EGP has been the topic of several analyst reports. Evercore ISI reissued an "in-line" rating and set a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target for the company. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Robert W. Baird lifted their price target on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley reduced 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 note on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $189.00.
View Our Latest Research Report on EastGroup Properties
About EastGroup Properties
(
Free Report)
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.
Featured Articles
Before you consider EastGroup Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and EastGroup Properties wasn't on the list.
While EastGroup Properties currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
