Prevail Innovative Wealth Advisors LLC Buys New Position in EastGroup Properties, Inc. (NYSE:EGP)

Prevail Innovative Wealth Advisors LLC purchased a new position in EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,125 shares of the real estate investment trust’s stock, valued at approximately $3,551,000.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in EastGroup Properties by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust’s stock worth $1,121,978,000 after buying an additional 72,199 shares during the period. State Street Corp lifted its holdings in EastGroup Properties by 2.1% during the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust’s stock valued at $456,872,000 after purchasing an additional 49,268 shares in the last quarter. FMR LLC increased its stake in EastGroup Properties by 67.9% during the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after buying an additional 629,827 shares in the last quarter. Boston Partners lifted its holdings in EastGroup Properties by 34.1% in the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust’s stock valued at $169,533,000 after purchasing an additional 268,359 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of EastGroup Properties by 1.2% during the third quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust’s stock worth $168,032,000 after buying an additional 10,435 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

EGP has been the topic of a number of research reports. StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. 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 price target on the stock. Robert W. Baird raised their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley decreased their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average target price of $190.47.

EastGroup Properties Trading Down 0.3 %

NYSE:EGP opened at $176.19 on Friday. The stock has a market cap of $9.17 billion, a P/E ratio of 37.89, a P/E/G ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a 50-day simple moving average of $176.92 and a 200-day simple moving average of $174.51.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. As a group, analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

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

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.