Wells Fargo & Company MN reduced its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,983 shares of the real estate investment trust's stock after selling 1,865 shares during the quarter. Wells Fargo & Company MN owned 0.29% of EastGroup Properties worth $22,948,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in EastGroup Properties by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock valued at $1,121,978,000 after buying an additional 72,199 shares during the period. Boston Partners grew its stake in EastGroup Properties by 34.1% in the fourth quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock worth $169,533,000 after purchasing an additional 268,359 shares in the last quarter. Geode Capital Management LLC increased its holdings in EastGroup Properties by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 914,532 shares of the real estate investment trust's stock worth $146,816,000 after purchasing an additional 15,313 shares during the period. Raymond James Financial Inc. bought a new stake in EastGroup Properties during the 4th quarter valued at $116,756,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of EastGroup Properties by 210.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust's stock worth $113,584,000 after buying an additional 479,873 shares during the period. Institutional investors own 92.14% of the company's stock.
EastGroup Properties Stock Performance
Shares of EGP stock traded up $1.63 during trading hours on Friday, hitting $159.69. The company's stock had a trading volume of 332,278 shares, compared to its average volume of 366,184. The stock has a market cap of $8.31 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. The company has a 50 day moving average of $173.37 and a 200 day moving average of $171.51. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46.
EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results 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 net margin of 35.57% and a return on equity of 7.89%. On average, sell-side analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.
EastGroup Properties Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.51%. EastGroup Properties's payout ratio is currently 120.43%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on EGP. Robert W. Baird lifted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Morgan Stanley lowered their price target on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a research report on Monday, December 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price objective on the stock. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Raymond James set a $190.00 price target on EastGroup Properties and gave the company a "strong-buy" rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, EastGroup Properties has an average rating of "Moderate Buy" and an average price target of $188.24.
Read Our Latest Analysis on EGP
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.
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