Wealthfront Advisers LLC purchased a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,123 shares of the real estate investment trust's stock, valued at approximately $1,946,000.
Other institutional investors have also made changes to their positions in the company. Atria Investments Inc boosted its holdings in EastGroup Properties by 6.1% during the third quarter. Atria Investments Inc now owns 13,351 shares of the real estate investment trust's stock worth $2,494,000 after buying an additional 763 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of EastGroup Properties by 50.3% in the 3rd 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 period. Oppenheimer Asset Management Inc. boosted its stake in EastGroup Properties by 11.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,394 shares of the real estate investment trust's stock worth $3,063,000 after acquiring an additional 1,648 shares during the last quarter. Metis Global Partners LLC grew its holdings in EastGroup Properties by 31.3% during 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 purchasing an additional 1,193 shares during the period. 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 purchasing an additional 6,307 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.
EastGroup Properties Stock Up 1.1 %
EGP stock traded up $1.89 during midday trading on Monday, hitting $181.81. The company's stock had a trading volume of 139,035 shares, compared to its average volume of 322,325. The company's fifty day moving average price is $173.46 and its 200 day moving average price is $175.03. EastGroup Properties, Inc. has a twelve month low of $155.10 and a twelve month high of $192.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $9.46 billion, a P/E ratio of 39.10, a PEG ratio of 3.35 and a beta of 0.99.
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 the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.
EastGroup Properties Announces Dividend
The company 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 annualized dividend and a yield of 3.08%. The ex-dividend date is Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is currently 120.43%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on EGP. Evercore ISI reissued an "in-line" rating and set a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a research report on Monday. Morgan Stanley reduced their target price on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. KeyCorp restated a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price objective on the stock. Finally, Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and increased their target price for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $190.47.
View Our Latest Research Report on EastGroup Properties
EastGroup Properties Company Profile
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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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