EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 48.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,125 shares of the real estate investment trust’s stock after buying an additional 366 shares during the period. EverSource Wealth Advisors LLC’s holdings in EastGroup Properties were worth $181,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of EastGroup Properties by 2.1% during the 3rd quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust’s stock worth $456,872,000 after acquiring an additional 49,268 shares in the last quarter. FMR LLC boosted its stake in shares of EastGroup Properties by 67.9% during the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after acquiring an additional 629,827 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of EastGroup Properties by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust’s stock worth $168,032,000 after acquiring an additional 10,435 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of EastGroup Properties during the 4th quarter worth about $116,756,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of EastGroup Properties by 210.6% during 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 acquiring an additional 479,873 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Trading Up 1.9 %

Shares of EGP opened at $179.96 on Monday. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year 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. The stock has a 50 day simple moving average of $173.46 and a 200-day simple moving average of $175.03. The stock has a market cap of $9.36 billion, a PE ratio of 38.70, a PEG ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.40 dividend. The ex-dividend date is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.11%. EastGroup Properties’s payout ratio is presently 120.43%.

Wall Street Analysts Forecast Growth

EGP has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Truist Financial increased their target price on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded EastGroup Properties from a “hold” rating to a “buy” rating and increased their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Robert W. Baird increased their target price on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.65.

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.