EastGroup Properties, Inc. (NYSE:EGP) Holdings Raised by Northern Trust Corp

Northern Trust Corp lifted its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 91.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 811,196 shares of the real estate investment trust's stock after buying an additional 387,134 shares during the period. Northern Trust Corp owned approximately 1.64% of EastGroup Properties worth $130,189,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in EastGroup Properties by 337.0% in the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock valued at $8,728,000 after purchasing an additional 37,863 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of EastGroup Properties by 20.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock worth $261,000 after buying an additional 275 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of EastGroup Properties by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust's stock valued at $72,610,000 after buying an additional 23,626 shares during the period. BankPlus Trust Department acquired a new position in EastGroup Properties during the fourth quarter worth $1,871,000. Finally, Nordea Investment Management AB raised its position in EastGroup Properties by 6.1% in the fourth quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock worth $11,667,000 after acquiring an additional 4,176 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Barclays dropped their price objective on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Raymond James increased their price target on EastGroup Properties from $190.00 to $200.00 and gave the stock a "strong-buy" rating in a research note on Wednesday. Evercore ISI boosted their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a "buy" rating and a $180.00 price target for the company. Finally, Robert W. Baird reduced their price target on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, EastGroup Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $187.40.

EastGroup Properties Stock Down 0.3 %

Shares of EastGroup Properties stock traded down $0.51 on Wednesday, hitting $164.80. 201,338 shares of the company's stock traded hands, compared to its average volume of 369,053. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.65 billion, a P/E ratio of 35.51, a PEG ratio of 3.35 and a beta of 1.05. The firm's 50-day moving average is $168.91 and its 200 day moving average is $169.88.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The firm had revenue of $174.45 million for the quarter, compared to the consensus estimate of $169.67 million. During the same period in the prior year, the firm posted $1.98 EPS. The firm's revenue was up 13.1% compared to the same quarter last year. Equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $1.40 per share. The ex-dividend date was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.40%. EastGroup Properties's payout ratio is currently 122.54%.

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.