EP Wealth Advisors LLC Buys Shares of 1,119 EastGroup Properties, Inc. (NYSE:EGP)

EP Wealth Advisors LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,119 shares of the real estate investment trust’s stock, valued at approximately $209,000.

Other hedge funds also recently made changes to their positions in the company. Gradient Investments LLC acquired a new stake in EastGroup Properties in the 2nd quarter valued at approximately $32,000. V Square Quantitative Management LLC grew its stake in shares of 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 purchasing an additional 61 shares in the last quarter. Quest Partners LLC increased its holdings in shares of EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Headlands Technologies LLC bought a new stake in shares of EastGroup Properties during the second quarter valued at about $66,000. Finally, GAMMA Investing LLC lifted its holdings in EastGroup Properties by 90.7% in the third quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 255 shares during the period. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $171.25 on Friday. The company’s fifty day moving average is $174.43 and its two-hundred day moving average is $177.75. The company has a market cap of $8.48 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 2.22 and a beta of 0.99. EastGroup Properties, Inc. has a 12-month low of $155.23 and a 12-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.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. During the same period in the previous year, the firm posted $1.95 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, December 31st. EastGroup Properties’s payout ratio is presently 115.70%.

Analysts Set New Price Targets

EGP has been the topic of a number of recent analyst reports. Raymond James upgraded shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $185.00 to $200.00 in a research report on Wednesday. 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. Morgan Stanley increased their price target on EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Wells Fargo & Company dropped their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Barclays decreased their target price on EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.80.

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.