Canton Hathaway LLC Purchases Shares of 190 EastGroup Properties, Inc. (NYSE:EGP)

Canton Hathaway LLC acquired a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 190 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Several other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in shares of EastGroup Properties during the 4th quarter worth $6,058,000. Amalgamated Bank lifted its position in shares of EastGroup Properties by 1.4% during the 4th quarter. Amalgamated Bank now owns 23,439 shares of the real estate investment trust’s stock worth $3,762,000 after purchasing an additional 320 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of EastGroup Properties by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust’s stock worth $72,610,000 after purchasing an additional 23,626 shares during the last quarter. BankPlus Trust Department purchased a new stake in shares of EastGroup Properties during the 4th quarter worth $1,871,000. Finally, Venturi Wealth Management LLC lifted its position in shares of EastGroup Properties by 69.9% during the 4th quarter. Venturi Wealth Management LLC now owns 700 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 288 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. StockNews.com upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Robert W. Baird increased their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.65.

EastGroup Properties Trading Up 0.8 %

Shares of EastGroup Properties stock opened at $180.86 on Tuesday. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month 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 market cap of $9.41 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00. The company has a 50-day moving average of $167.61 and a two-hundred day moving average of $175.18.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. On average, research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.10%. EastGroup Properties’s dividend payout ratio is presently 120.43%.

About EastGroup Properties

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.