Wealthfront Advisers LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 also recently made changes to their positions in EGP. Atria Investments Inc raised its position in shares of EastGroup Properties by 6.1% in the third quarter. Atria Investments Inc now owns 13,351 shares of the real estate investment trust's stock valued at $2,494,000 after buying an additional 763 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in EastGroup Properties by 50.3% in the third quarter. Crossmark Global Holdings Inc. now owns 4,892 shares of the real estate investment trust's stock valued at $914,000 after acquiring an additional 1,638 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in EastGroup Properties by 11.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,394 shares of the real estate investment trust's stock valued at $3,063,000 after acquiring an additional 1,648 shares during the last quarter. Metis Global Partners LLC increased its stake in EastGroup Properties by 31.3% in the third quarter. Metis Global Partners LLC now owns 5,008 shares of the real estate investment trust's stock valued at $936,000 after acquiring an additional 1,193 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in EastGroup Properties by 13.6% in the third quarter. Natixis Advisors LLC now owns 52,679 shares of the real estate investment trust's stock valued at $9,842,000 after acquiring an additional 6,307 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.
EastGroup Properties Stock Down 1.2 %
Shares of NYSE EGP traded down $2.20 during trading on Tuesday, hitting $179.36. 389,191 shares of the company traded hands, compared to its average volume of 323,793. The business's fifty day moving average is $174.32 and its 200 day moving average is $174.97. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 38.57, a P/E/G ratio of 3.35 and a beta of 0.99. 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 announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating 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%. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.
EastGroup Properties Announces Dividend
The firm also recently announced 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. This represents a $5.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties's payout ratio is presently 120.43%.
Analyst Ratings Changes
A number of brokerages recently issued reports on EGP. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Evercore ISI reissued an "in-line" rating and issued a $185.00 price objective (up from $181.00) on shares of EastGroup Properties in a research note on Monday. Raymond James raised shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Finally, Robert W. Baird boosted their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, EastGroup Properties has an average rating of "Moderate Buy" and a consensus target price of $190.47.
Check Out Our Latest Stock Report on EGP
EastGroup Properties Profile
(
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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