EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP) by 69.9% in the 4th quarter, HoldingsChannel reports. The firm owned 700 shares of the real estate investment trust’s stock after purchasing an additional 288 shares during the period. Venturi Wealth Management LLC’s holdings in EastGroup Properties were worth $112,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EGP. Creative Planning raised its stake in EastGroup Properties by 4.8% in the 3rd quarter. Creative Planning now owns 2,555 shares of the real estate investment trust’s stock valued at $477,000 after purchasing an additional 117 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in EastGroup Properties in the 3rd quarter valued at about $1,223,000. Hennion & Walsh Asset Management Inc. raised its stake in EastGroup Properties by 22.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,275 shares of the real estate investment trust’s stock valued at $799,000 after purchasing an additional 794 shares during the last quarter. IFM Investors Pty Ltd raised its stake in EastGroup Properties by 1.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 11,238 shares of the real estate investment trust’s stock valued at $2,099,000 after purchasing an additional 132 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in EastGroup Properties by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,869 shares of the real estate investment trust’s stock valued at $351,000 after purchasing an additional 488 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial boosted their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, February 14th. Robert W. Baird upped their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $186.00 price objective on shares of EastGroup Properties in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $191.65.

EastGroup Properties Stock Down 0.2 %

NYSE EGP opened at $179.35 on Friday. The stock has a market cap of $9.33 billion, a PE ratio of 38.57, a P/E/G ratio of 3.35 and a beta of 1.00. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The business has a 50 day moving average price of $167.39 and a two-hundred day moving average price of $175.22. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is presently 120.43%.

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.