EastGroup Properties, Inc. (NYSE:EGP) Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 16.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,262 shares of the real estate investment trust's stock after purchasing an additional 13,486 shares during the period. WCM Investment Management LLC owned approximately 0.20% of EastGroup Properties worth $18,254,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EGP. Gradient Investments LLC purchased a new stake in EastGroup Properties during the second quarter worth about $32,000. V Square Quantitative Management LLC increased its stake in EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 61 shares in the last quarter. Quest Partners LLC increased its stake in EastGroup Properties by 10,400.0% in the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 208 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in EastGroup Properties by 30.2% during the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 80 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in EastGroup Properties during the second quarter worth $66,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Trading Down 0.5 %

EGP stock traded down $0.80 on Monday, hitting $175.20. 394,631 shares of the company were exchanged, compared to its average volume of 301,717. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. The business's fifty day moving average is $181.52 and its two-hundred day moving average is $176.20. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 2.62 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). The firm had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. EastGroup Properties's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. As a group, research analysts forecast that EastGroup Properties, Inc. will post 8.35 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.20%. This is a boost from EastGroup Properties's previous quarterly dividend of $1.27. The ex-dividend date was Monday, September 30th. EastGroup Properties's payout ratio is 115.70%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho upgraded shares of EastGroup Properties from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $175.00 to $200.00 in a research report on Thursday, September 5th. Morgan Stanley increased their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an "equal weight" rating in a research report on Thursday, August 22nd. Evercore ISI lifted their price objective on EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, October 7th. KeyCorp increased their target price on EastGroup Properties from $178.00 to $198.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company cut their price target on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $191.50.

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.