Proficio Capital Partners LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,715 shares of the real estate investment trust's stock, valued at approximately $3,967,000.
A number of other institutional investors have also modified their holdings of EGP. Canton Hathaway LLC purchased a new position in shares of EastGroup Properties during the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock worth $58,000 after acquiring an additional 302 shares during the period. Principal Securities Inc. increased its position in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after acquiring an additional 84 shares during the period. Versant Capital Management Inc increased its position in shares of EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 95 shares during the period. Finally, Quarry LP purchased a new position in shares of EastGroup Properties during the third quarter worth approximately $102,000. 92.14% of the stock is owned by hedge funds and other institutional investors.
EastGroup Properties Stock Performance
Shares of NYSE:EGP traded down $1.04 on Friday, hitting $184.51. 562,513 shares of the company were exchanged, compared to its average volume of 321,548. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The stock's 50 day moving average price is $171.00 and its 200 day moving average price is $175.36. 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 capitalization of $9.60 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99.
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 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%. Sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 EPS 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 paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.04%. EastGroup Properties's payout ratio is currently 120.43%.
Analyst Ratings Changes
A number of equities analysts have recently commented on EGP shares. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Robert W. Baird lifted their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Truist Financial lifted their price objective on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a "hold" rating in a report on Friday, February 14th. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Finally, Morgan Stanley cut their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.65.
View Our Latest Report on EGP
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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