EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 7.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,282 shares of the real estate investment trust’s stock after purchasing an additional 607 shares during the period. Captrust Financial Advisors’ holdings in EastGroup Properties were worth $1,547,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in shares of EastGroup Properties by 808.7% during the second quarter. SG Americas Securities LLC now owns 23,789 shares of the real estate investment trust’s stock valued at $4,047,000 after purchasing an additional 21,171 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in EastGroup Properties by 3.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,072 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 138 shares during the period. Blue Trust Inc. lifted its stake in EastGroup Properties by 6,133.3% in the second quarter. Blue Trust Inc. now owns 935 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 920 shares during the last quarter. Gradient Investments LLC acquired a new position in shares of EastGroup Properties during the second quarter valued at $32,000. Finally, waypoint wealth counsel grew its position in shares of EastGroup Properties by 2.7% during the second quarter. waypoint wealth counsel now owns 5,650 shares of the real estate investment trust’s stock worth $961,000 after acquiring an additional 150 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $168.00 on Friday. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average of $175.55 and a two-hundred day moving average of $177.41. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 2.21 and a beta of 0.99.

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

EastGroup Properties Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on EGP. Morgan Stanley boosted their target price on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $186.00 price objective on shares of EastGroup Properties in a research report on Wednesday, October 30th. StockNews.com lowered EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Wedbush reaffirmed an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. Finally, Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $191.21.

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.