Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 22,125 shares of the real estate investment trust's stock, valued at approximately $3,551,000.
Other hedge funds have also recently made changes to their positions in the company. California Public Employees Retirement System grew its position in shares of EastGroup Properties by 0.9% in the 4th quarter. California Public Employees Retirement System now owns 81,270 shares of the real estate investment trust's stock worth $13,043,000 after buying an additional 690 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in EastGroup Properties by 1.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,551 shares of the real estate investment trust's stock valued at $2,496,000 after purchasing an additional 155 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of EastGroup Properties by 7.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 64,940 shares of the real estate investment trust's stock worth $10,422,000 after purchasing an additional 4,430 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of EastGroup Properties in the 4th quarter valued at about $1,006,000. Finally, Norges Bank acquired a new position in EastGroup Properties during the fourth quarter worth $100,579,000. 92.14% of the stock is currently owned by institutional investors.
EastGroup Properties Price Performance
EGP stock traded down $7.07 on Thursday, reaching $168.58. The company had a trading volume of 358,790 shares, compared to its average volume of 347,181. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The company has a market cap of $8.77 billion, a P/E ratio of 36.25, a PEG ratio of 3.35 and a beta of 0.99. The company's fifty day moving average is $177.49 and its 200 day moving average is $174.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.
EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data 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, research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.
EastGroup Properties Announces Dividend
The firm 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 $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's dividend payout ratio is currently 120.43%.
Analyst Ratings Changes
EGP has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price target on the stock. Raymond James upgraded EastGroup Properties from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $185.00 to $200.00 in a research note on Wednesday, December 11th. Evercore ISI reaffirmed an "in-line" rating and issued a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Morgan Stanley lowered their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Finally, KeyCorp restated a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $190.47.
View Our Latest 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.
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