EastGroup Properties, Inc. (NYSE:EGP) Shares Bought by Creative Planning

Creative Planning raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,555 shares of the real estate investment trust’s stock after purchasing an additional 117 shares during the period. Creative Planning’s holdings in EastGroup Properties were worth $477,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Gradient Investments LLC acquired a new stake in EastGroup Properties during the 2nd quarter valued at approximately $32,000. Quest Partners LLC grew its position in shares of EastGroup Properties by 10,400.0% in the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 208 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of EastGroup Properties by 30.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 80 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of EastGroup Properties in the 2nd quarter worth approximately $66,000. Finally, Versant Capital Management Inc grew its position in shares of EastGroup Properties by 10,000.0% in the 2nd quarter. Versant Capital Management Inc now owns 404 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EGP shares. Evercore ISI upped their target price on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Barclays dropped their target price on EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Wedbush reissued an “outperform” rating and set a $209.00 price objective on shares of EastGroup Properties in a report on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $186.00 price objective on shares of EastGroup Properties in a report on Wednesday, October 30th. Finally, Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $175.00 to $200.00 in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Hold” and a consensus target price of $191.50.

EastGroup Properties Stock Up 1.3 %

EGP opened at $174.98 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties, Inc. has a 1-year low of $155.23 and a 1-year high of $192.61. The company has a market capitalization of $8.66 billion, a PE ratio of 36.15, a PEG ratio of 2.55 and a beta of 1.00. The firm’s 50 day simple moving average is $182.34 and its two-hundred day simple moving average is $175.80.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.97). The business had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.95 EPS. As a group, equities analysts forecast that EastGroup Properties, Inc. will post 8.35 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, September 30th. EastGroup Properties’s payout ratio is presently 115.70%.

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.