UBS Asset Management Americas Inc. raised its position in shares of Eastgroup Properties Inc (NYSE:EGP) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,370 shares of the real estate investment trust’s stock after acquiring an additional 7,553 shares during the period. UBS Asset Management Americas Inc.’s holdings in Eastgroup Properties were worth $6,573,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of EGP. SeaCrest Wealth Management LLC bought a new position in Eastgroup Properties during the fourth quarter valued at $148,000. AE Wealth Management LLC bought a new position in Eastgroup Properties during the third quarter valued at $239,000. Connable Office Inc. bought a new position in Eastgroup Properties during the fourth quarter valued at $258,000. Capital Fund Management S.A. bought a new position in Eastgroup Properties during the fourth quarter valued at $274,000. Finally, Legato Capital Management LLC bought a new position in Eastgroup Properties during the fourth quarter valued at $292,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
A number of research analysts have weighed in on EGP shares. Morgan Stanley reiterated an “equal weight” rating and set a $82.00 price objective on shares of Eastgroup Properties in a research report on Thursday, December 14th. Zacks Investment Research cut shares of Eastgroup Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. ValuEngine upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. SunTrust Banks upgraded shares of Eastgroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Mizuho reiterated a “hold” rating and set a $90.00 price objective on shares of Eastgroup Properties in a research report on Sunday, February 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $87.42.
Shares of Eastgroup Properties Inc (NYSE:EGP) opened at $84.16 on Friday. The stock has a market cap of $2,881.94, a price-to-earnings ratio of 19.47, a PEG ratio of 4.28 and a beta of 0.95. Eastgroup Properties Inc has a one year low of $69.90 and a one year high of $95.03.
Eastgroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, January 31st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $71.36 million during the quarter, compared to analyst estimates of $69.66 million. Eastgroup Properties had a net margin of 30.34% and a return on equity of 11.58%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. analysts anticipate that Eastgroup Properties Inc will post 4.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, March 21st will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, March 20th. Eastgroup Properties’s dividend payout ratio is currently 105.35%.
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About Eastgroup Properties
EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.
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