EverSource Wealth Advisors LLC Boosts Position in EastGroup Properties, Inc. (NYSE:EGP)

EverSource Wealth Advisors LLC lifted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 48.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,125 shares of the real estate investment trust’s stock after acquiring an additional 366 shares during the period. EverSource Wealth Advisors LLC’s holdings in EastGroup Properties were worth $181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of EGP. Canton Hathaway LLC purchased a new position in shares of EastGroup Properties during the 4th quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 302 shares during the period. Principal Securities Inc. increased its position in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 84 shares during the last quarter. Versant Capital Management Inc increased its position in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 95 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of EastGroup Properties during the 3rd quarter worth about $102,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 1.9 %

Shares of EGP stock opened at $179.96 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market capitalization of $9.36 billion, a PE ratio of 38.70, a P/E/G ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The business’s fifty day moving average price is $173.46 and its 200 day moving average price is $175.03.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping 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%. As a group, sell-side analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.11%. EastGroup Properties’s payout ratio is currently 120.43%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EGP shares. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Morgan Stanley cut their price objective on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and raised their price objective for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.65.

EastGroup Properties 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.