UniSuper Management Pty Ltd Has $2.22 Million Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

UniSuper Management Pty Ltd lifted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,800 shares of the real estate investment trust’s stock after buying an additional 200 shares during the period. UniSuper Management Pty Ltd’s holdings in EastGroup Properties were worth $2,215,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC raised its stake in EastGroup Properties by 35.6% during the third quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust’s stock worth $2,545,000 after acquiring an additional 3,574 shares in the last quarter. Franklin Resources Inc. increased its position in shares of EastGroup Properties by 337.0% during the 3rd quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust’s stock worth $8,728,000 after purchasing an additional 37,863 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in EastGroup Properties by 20.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust’s stock valued at $261,000 after purchasing an additional 275 shares during the last quarter. Bank of New York Mellon Corp boosted its position in EastGroup Properties by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust’s stock valued at $72,610,000 after buying an additional 23,626 shares in the last quarter. Finally, BankPlus Trust Department bought a new stake in EastGroup Properties during the fourth quarter worth about $1,871,000. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.3 %

NYSE:EGP opened at $176.19 on Monday. 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 firm’s 50 day moving average is $176.92 and its 200 day moving average is $174.45. The stock has a market capitalization of $9.17 billion, a PE ratio of 37.89, a price-to-earnings-growth 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, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. EastGroup Properties’s dividend payout ratio is presently 120.43%.

Analysts Set New Price Targets

EGP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price on the stock. Evercore ISI reiterated an “in-line” rating and set a $185.00 target price (up from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Jefferies Financial Group upgraded EastGroup Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. Finally, KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.47.

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.