SG Americas Securities LLC Has $2.76 Million Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

SG Americas Securities LLC increased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 629.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 17,216 shares of the real estate investment trust’s stock after purchasing an additional 14,855 shares during the period. SG Americas Securities LLC’s holdings in EastGroup Properties were worth $2,763,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC boosted its stake in shares of EastGroup Properties by 47.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 61 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in EastGroup Properties by 7.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 95 shares during the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of EastGroup Properties by 4.9% in the third quarter. Azzad Asset Management Inc. ADV now owns 2,085 shares of the real estate investment trust’s stock valued at $389,000 after purchasing an additional 98 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of EastGroup Properties by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,598 shares of the real estate investment trust’s stock worth $299,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Up 0.1 %

Shares of EGP stock opened at $169.58 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The company has a market cap of $8.40 billion, a PE ratio of 35.04, a P/E/G ratio of 3.12 and a beta of 1.00. The stock’s fifty day moving average price is $165.87 and its two-hundred day moving average price is $176.64.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 37.19% and a return on equity of 8.56%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.95 EPS. Equities analysts predict that EastGroup Properties, Inc. will post 8.34 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is 115.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price target on the stock. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their price target on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $190.88.

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.