546 Shares in EastGroup Properties, Inc. (NYSE:EGP) Bought by Quarry LP

Quarry LP acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 546 shares of the real estate investment trust’s stock, valued at approximately $102,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC raised its position in shares of EastGroup Properties by 35.6% in the third quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust’s stock worth $2,545,000 after buying an additional 3,574 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of EastGroup Properties by 30.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 280,759 shares of the real estate investment trust’s stock worth $47,757,000 after buying an additional 64,984 shares in the last quarter. Ausbil Investment Management Ltd raised its position in shares of EastGroup Properties by 261.6% in the third quarter. Ausbil Investment Management Ltd now owns 6,737 shares of the real estate investment trust’s stock worth $1,259,000 after buying an additional 4,874 shares in the last quarter. SG Americas Securities LLC raised its position in shares of EastGroup Properties by 808.7% in the second quarter. SG Americas Securities LLC now owns 23,789 shares of the real estate investment trust’s stock worth $4,047,000 after buying an additional 21,171 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of EastGroup Properties in the third quarter worth $1,223,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Down 0.6 %

Shares of NYSE:EGP opened at $168.00 on Friday. The stock’s 50-day moving average price is $175.55 and its 200-day moving average price is $177.41. EastGroup Properties, Inc. has a 12-month low of $155.23 and a 12-month high of $192.61. The stock has a market capitalization of $8.32 billion, a P/E ratio of 34.71, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.97). The business had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.95 earnings per share. On average, equities analysts anticipate that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.33%. EastGroup Properties’s payout ratio is presently 115.70%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EGP. StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Truist Financial reduced their target price on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Evercore ISI increased their target price on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and increased their target price for the company from $175.00 to $200.00 in a research note on Thursday, September 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $186.00 target price on shares of EastGroup Properties in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties currently has an average rating of “Hold” and a consensus target price of $191.21.

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.