2,120 Shares in EastGroup Properties, Inc. (NYSE:EGP) Purchased by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,120 shares of the real estate investment trust’s stock, valued at approximately $399,000.

Several other hedge funds have also recently made changes to their positions in the business. Gradient Investments LLC bought a new position in EastGroup Properties in the 2nd quarter worth $32,000. V Square Quantitative Management LLC lifted its holdings in EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 61 shares during the period. Quest Partners LLC grew its stake in EastGroup Properties by 10,400.0% in the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the period. EverSource Wealth Advisors LLC raised its holdings in EastGroup Properties by 30.2% in the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 80 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in EastGroup Properties during the second quarter valued at $66,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EGP has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $186.00 price target on shares of EastGroup Properties in a research note on Wednesday, October 30th. KeyCorp lifted their target price on shares of EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company reduced their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Wedbush reissued an “outperform” rating and issued a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. Finally, Truist Financial lowered their price target on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EastGroup Properties presently has an average rating of “Hold” and a consensus price target of $191.21.

EastGroup Properties Stock Up 0.4 %

Shares of EastGroup Properties stock opened at $172.66 on Tuesday. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $180.24 and its 200 day moving average is $176.77. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 35.67, a price-to-earnings-growth ratio of 2.56 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last released its quarterly 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). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $161.52 million. During the same quarter last year, the business earned $1.95 earnings per share. The business’s quarterly revenue was up 11.2% on a year-over-year basis. Research analysts anticipate that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.40 dividend. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.24%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

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.