Inspire Investing LLC Has $862,000 Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Inspire Investing LLC raised its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,368 shares of the real estate investment trust’s stock after buying an additional 304 shares during the quarter. Inspire Investing LLC’s holdings in EastGroup Properties were worth $862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EGP. Cerity Partners LLC raised its stake in EastGroup Properties by 35.6% during the 3rd quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust’s stock worth $2,545,000 after buying an additional 3,574 shares during the period. Ausbil Investment Management Ltd raised its position in shares of EastGroup Properties by 261.6% during the third quarter. Ausbil Investment Management Ltd now owns 6,737 shares of the real estate investment trust’s stock worth $1,259,000 after purchasing an additional 4,874 shares during the period. Franklin Resources Inc. lifted its holdings in shares of EastGroup Properties by 337.0% in the 3rd quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust’s stock worth $8,728,000 after purchasing an additional 37,863 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of EastGroup Properties by 20.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust’s stock worth $261,000 after purchasing an additional 275 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in EastGroup Properties by 6.1% in the 4th quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust’s stock valued at $11,667,000 after purchasing an additional 4,176 shares during the period. 92.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EGP has been the topic of several recent research reports. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price on the stock. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Barclays cut their price objective on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $190.88.

EastGroup Properties Stock Performance

Shares of NYSE EGP opened at $169.40 on Friday. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month high of $192.61. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $165.92 and a 200 day moving average of $176.65.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. During the same period in the prior year, the business earned $1.95 earnings per share. EastGroup Properties’s revenue was up 11.2% compared to the same quarter last year. On average, research analysts anticipate that EastGroup Properties, Inc. will post 8.34 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s payout ratio is 115.70%.

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.