New Age Alpha Advisors LLC Takes $1.01 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

New Age Alpha Advisors LLC acquired a new position in EastGroup Properties, Inc. (NYSE:EGP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,267 shares of the real estate investment trust’s stock, valued at approximately $1,006,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of EastGroup Properties during the 4th quarter worth about $100,579,000. UniSuper Management Pty Ltd increased its stake in EastGroup Properties by 1.5% during the fourth quarter. UniSuper Management Pty Ltd now owns 13,800 shares of the real estate investment trust’s stock valued at $2,215,000 after acquiring an additional 200 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in EastGroup Properties by 4.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 32,651 shares of the real estate investment trust’s stock valued at $5,255,000 after acquiring an additional 1,360 shares in the last quarter. First American Trust FSB bought a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $282,000. Finally, EntryPoint Capital LLC grew its holdings in shares of EastGroup Properties by 111.3% during the 4th quarter. EntryPoint Capital LLC now owns 2,912 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 1,534 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EGP shares. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price for the company. StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday. Robert W. Baird upped their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Evercore ISI restated an “in-line” rating and set a $185.00 price target (up previously from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. Finally, Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $185.00 to $200.00 in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.47.

EastGroup Properties Trading Down 0.2 %

Shares of NYSE EGP opened at $176.01 on Tuesday. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $177.21 and a two-hundred day moving average of $174.39. The company has a market cap of $9.16 billion, a PE ratio of 37.85, a P/E/G ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) 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, equities analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.40 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. EastGroup Properties’s payout ratio is 120.43%.

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.