Virtu Financial LLC bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,701 shares of the real estate investment trust's stock, valued at approximately $273,000.
Other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in EastGroup Properties by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock valued at $234,000 after buying an additional 72 shares during the last quarter. Principal Securities Inc. raised its position in shares of EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 84 shares during the last quarter. Versant Capital Management Inc boosted its stake in EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 95 shares in the last quarter. waypoint wealth counsel grew its holdings in shares of EastGroup Properties by 1.9% during the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after buying an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in EastGroup Properties by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust's stock worth $1,612,000 after acquiring an additional 100 shares during the last quarter. 92.14% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
EGP has been the topic of several recent analyst reports. Morgan Stanley cut their target price 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. StockNews.com cut EastGroup Properties from a "hold" rating to a "sell" rating in a research report on Monday. Evercore ISI reissued an "in-line" rating and issued a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. Truist Financial raised their price target 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. Finally, KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.47.
Read Our Latest Stock Analysis on EastGroup Properties
EastGroup Properties Stock Performance
NYSE:EGP traded down $0.09 during mid-day trading on Tuesday, hitting $176.06. 465,636 shares of the company traded hands, compared to its average volume of 346,310. 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 stock's fifty day moving average price is $177.34 and its 200-day moving average price is $174.31. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61.
EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.
EastGroup Properties Announces Dividend
The company 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.18%. EastGroup Properties's payout ratio is 120.43%.
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.
Recommended Stories
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
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
