Mather Group LLC. Takes Position in EastGroup Properties, Inc. (NYSE:EGP)

Mather Group LLC. bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 230 shares of the real estate investment trust’s stock, valued at approximately $42,000.

A number of other hedge funds have also recently modified their holdings of EGP. GAMMA Investing LLC purchased a new stake in EastGroup Properties during the 4th quarter valued at about $31,000. Venturi Wealth Management LLC grew its position in EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 66 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in EastGroup Properties during the 4th quarter valued at about $37,000. Tucker Asset Management LLC purchased a new stake in shares of EastGroup Properties during the 3rd quarter valued at about $44,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of EastGroup Properties by 1,938.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Up 0.5 %

EGP stock opened at $167.95 on Tuesday. The firm has a fifty day moving average price of $163.09 and a 200 day moving average price of $173.99. EastGroup Properties, Inc. has a fifty-two week low of $154.75 and a fifty-two week high of $188.85. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $8.09 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 2.58 and a beta of 0.98.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, June 28th. EastGroup Properties’s dividend payout ratio (DPR) is presently 110.20%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Robert W. Baird dropped their price target on shares of EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets started coverage on shares of EastGroup Properties in a research note on Monday, April 22nd. They issued an “outperform” rating and a $190.00 price objective on the stock. Barclays lowered their price objective on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. BNP Paribas started coverage on shares of EastGroup Properties in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $167.00 price objective on the stock. Finally, Evercore ISI decreased their target price on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a research note on Thursday, April 25th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $182.41.

About EastGroup Properties

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.