EastGroup Properties, Inc. $EGP Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 63.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,023 shares of the real estate investment trust’s stock after purchasing an additional 27,557 shares during the period. SG Americas Securities LLC’s holdings in EastGroup Properties were worth $12,652,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. True Wealth Design LLC grew its stake in EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 99 shares during the last quarter. State of Wyoming acquired a new position in EastGroup Properties during the 2nd quarter valued at about $27,000. MAI Capital Management raised its stake in EastGroup Properties by 83.7% in the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 82 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in EastGroup Properties in the third quarter valued at about $34,000. Finally, Mather Group LLC. acquired a new stake in EastGroup Properties in the third quarter worth about $35,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.3%

NYSE EGP opened at $183.43 on Friday. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $197.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01. The company has a market capitalization of $9.78 billion, a PE ratio of 37.67, a P/E/G ratio of 2.98 and a beta of 1.10. The company has a fifty day moving average of $187.65 and a 200 day moving average of $180.63.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.55 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.4%. EastGroup Properties’s dividend payout ratio (DPR) is presently 127.31%.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of research analyst reports. Evercore set a $188.00 price target on EastGroup Properties in a research note on Friday, February 6th. KeyCorp increased their price objective on shares of EastGroup Properties from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Cantor Fitzgerald boosted their target price on shares of EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Royal Bank Of Canada upped their price target on shares of EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 18th. Finally, UBS Group set a $200.00 price target on shares of EastGroup Properties in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.18.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.