Jefferies Group LLC lifted its stake in Eastgroup Properties Inc (NYSE:EGP) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,336 shares of the real estate investment trust’s stock after purchasing an additional 703 shares during the period. Jefferies Group LLC’s holdings in Eastgroup Properties were worth $383,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC purchased a new stake in shares of Eastgroup Properties in the 4th quarter worth about $148,000. MML Investors Services LLC purchased a new stake in shares of Eastgroup Properties in the 4th quarter worth about $218,000. Connable Office Inc. purchased a new stake in shares of Eastgroup Properties in the 4th quarter worth about $258,000. Capital Fund Management S.A. purchased a new stake in shares of Eastgroup Properties in the 4th quarter worth about $274,000. Finally, Legato Capital Management LLC purchased a new stake in shares of Eastgroup Properties in the 4th quarter worth about $292,000. 96.08% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on EGP. Morgan Stanley reaffirmed an “equal weight” rating and issued a $82.00 target price on shares of Eastgroup Properties in a research report on Thursday, December 14th. ValuEngine upgraded shares of Eastgroup Properties from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered shares of Eastgroup Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Mizuho reiterated a “hold” rating and issued a $90.00 price target on shares of Eastgroup Properties in a research note on Sunday, February 4th. Finally, SunTrust Banks upgraded shares of Eastgroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $89.00.
Eastgroup Properties (NYSE:EGP) last released its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business 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%. Eastgroup Properties’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. equities analysts forecast that Eastgroup Properties Inc will post 4.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 21st will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.56 dividend on an annualized basis and a yield of 3.21%. Eastgroup Properties’s dividend payout ratio is currently 105.35%.
In other news, Director Fredric H. Gould acquired 3,000 shares of Eastgroup Properties stock in a transaction on Thursday, February 8th. The stock was acquired at an average cost of $80.05 per share, for a total transaction of $240,150.00. Following the purchase, the director now owns 13,688 shares in the company, valued at $1,095,724.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by company insiders.
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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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