Wealthfront Advisers LLC Purchases Shares of 12,123 EastGroup Properties, Inc. (NYSE:EGP)

Wealthfront Advisers LLC purchased 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 purchased 12,123 shares of the real estate investment trust's stock, valued at approximately $1,946,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGP. Canton Hathaway LLC bought a new stake in shares of EastGroup Properties in the 4th quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of EastGroup Properties by 503.3% in the 4th 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 in the last quarter. Principal Securities Inc. grew its stake 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 acquiring an additional 84 shares in the last quarter. Quarry LP bought a new stake in shares of EastGroup Properties in the 3rd quarter worth $102,000. Finally, Versant Capital Management Inc grew its stake in shares of 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 acquiring an additional 95 shares in the last quarter. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Price Performance

Shares of EGP stock traded up $0.13 during trading on Tuesday, hitting $181.68. The company had a trading volume of 62,087 shares, compared to its average volume of 431,379. 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 50-day moving average is $173.91 and its two-hundred day moving average is $175.01. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61.

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EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. As a group, analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's payout ratio is currently 120.43%.

Analyst Ratings Changes

Several research firms have recently issued reports on EGP. Raymond James upgraded shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Evercore ISI reissued 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. Robert W. Baird boosted their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley cut their price target 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. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $190.47.

EastGroup Properties 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.