EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC increased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 18.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 387,972 shares of the real estate investment trust’s stock after purchasing an additional 60,624 shares during the quarter. Janus Henderson Group PLC owned 0.78% of EastGroup Properties worth $72,438,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heitman Real Estate Securities LLC boosted its holdings in EastGroup Properties by 5.2% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 256,923 shares of the real estate investment trust’s stock worth $47,998,000 after acquiring an additional 12,739 shares during the period. Holocene Advisors LP boosted its holdings in EastGroup Properties by 13.5% in the 3rd quarter. Holocene Advisors LP now owns 26,534 shares of the real estate investment trust’s stock worth $4,957,000 after acquiring an additional 3,151 shares during the period. Centiva Capital LP purchased a new position in EastGroup Properties in the 3rd quarter worth approximately $642,000. Edgestream Partners L.P. boosted its holdings in EastGroup Properties by 70.9% in the 3rd quarter. Edgestream Partners L.P. now owns 7,574 shares of the real estate investment trust’s stock worth $1,415,000 after acquiring an additional 3,143 shares during the period. Finally, Eventide Asset Management LLC boosted its holdings in EastGroup Properties by 20.3% in the 3rd quarter. Eventide Asset Management LLC now owns 188,661 shares of the real estate investment trust’s stock worth $35,246,000 after acquiring an additional 31,790 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.5 %

NYSE:EGP opened at $168.98 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. EastGroup Properties, Inc. has a fifty-two week low of $155.23 and a fifty-two week high of $192.61. The stock’s 50-day moving average is $175.95 and its two-hundred day moving average is $177.31. The stock has a market cap of $8.37 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.97). The firm had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.95 earnings per share. As a group, equities research analysts forecast that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.60 annualized dividend and a yield of 3.31%. EastGroup Properties’s dividend payout ratio (DPR) is currently 115.70%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their target price on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Mizuho upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. Evercore ISI raised their price objective on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Wedbush restated an “outperform” rating and set a $209.00 price objective on shares of EastGroup Properties in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $191.21.

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.