EastGroup Properties, Inc. (NYSE:EGP) Shares Bought by waypoint wealth counsel

waypoint wealth counsel increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,400 shares of the real estate investment trust’s stock after buying an additional 100 shares during the quarter. waypoint wealth counsel’s holdings in EastGroup Properties were worth $867,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV raised its position in EastGroup Properties by 69.6% during the 4th quarter. KBC Group NV now owns 1,989 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 816 shares during the last quarter. Blue Trust Inc. lifted its position in EastGroup Properties by 26.0% in the fourth quarter. Blue Trust Inc. now owns 1,242 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 256 shares during the period. Inspire Investing LLC boosted its holdings in EastGroup Properties by 6.0% in the 4th quarter. Inspire Investing LLC now owns 5,368 shares of the real estate investment trust’s stock valued at $862,000 after purchasing an additional 304 shares in the last quarter. SG Americas Securities LLC increased its position in EastGroup Properties by 629.2% during the 4th quarter. SG Americas Securities LLC now owns 17,216 shares of the real estate investment trust’s stock worth $2,763,000 after purchasing an additional 14,855 shares during the period. Finally, Mechanics Bank Trust Department purchased a new position in shares of EastGroup Properties during the 4th quarter worth approximately $219,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Morgan Stanley reduced their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a “buy” rating and a $180.00 target price on the stock. Finally, StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.88.

EastGroup Properties Trading Up 0.1 %

EastGroup Properties stock opened at $169.58 on Monday. The stock has a market cap of $8.40 billion, a PE ratio of 35.04, a P/E/G ratio of 3.12 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $165.87 and a 200 day moving average price of $176.64. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is presently 115.70%.

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.