Ameritas Investment Partners Inc. Boosts Stake in EastGroup Properties, Inc. (NYSE:EGP)

Ameritas Investment Partners Inc. increased its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,519 shares of the real estate investment trust’s stock after acquiring an additional 337 shares during the period. Ameritas Investment Partners Inc.’s holdings in EastGroup Properties were worth $1,891,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EGP. Vanguard Group Inc. increased its position in EastGroup Properties by 3.2% in the first quarter. Vanguard Group Inc. now owns 6,863,129 shares of the real estate investment trust’s stock worth $1,233,785,000 after buying an additional 210,207 shares during the last quarter. Boston Partners lifted its holdings in EastGroup Properties by 42.7% during the fourth quarter. Boston Partners now owns 756,309 shares of the real estate investment trust’s stock valued at $138,813,000 after purchasing an additional 226,169 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in EastGroup Properties by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 666,304 shares of the real estate investment trust’s stock worth $122,295,000 after purchasing an additional 29,479 shares during the period. Eagle Asset Management Inc. increased its stake in shares of EastGroup Properties by 29.3% in the fourth quarter. Eagle Asset Management Inc. now owns 646,613 shares of the real estate investment trust’s stock worth $118,679,000 after purchasing an additional 146,381 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of EastGroup Properties by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 584,851 shares of the real estate investment trust’s stock valued at $107,344,000 after purchasing an additional 30,136 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

Shares of NYSE:EGP traded down $2.07 during trading on Wednesday, reaching $187.88. The company had a trading volume of 244,189 shares, compared to its average volume of 283,236. The company has a fifty day moving average of $170.31 and a two-hundred day moving average of $173.37. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $9.04 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 2.98 and a beta of 0.98. EastGroup Properties, Inc. has a 12 month low of $154.75 and a 12 month high of $192.61.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $1.27 per share. The ex-dividend date was Friday, June 28th. This represents a $5.08 dividend on an annualized basis and a yield of 2.70%. EastGroup Properties’s payout ratio is 110.20%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EGP. BMO Capital Markets initiated coverage on shares of EastGroup Properties in a research note on Monday, April 22nd. They issued an “outperform” rating and a $190.00 price objective for the company. Royal Bank of Canada reduced their price target on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research report on Monday, May 6th. BNP Paribas assumed coverage on EastGroup Properties in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $167.00 target price for the company. Wedbush upgraded EastGroup Properties from a “neutral” rating to an “outperform” rating and upped their price target for the company from $162.00 to $208.00 in a research report on Monday. Finally, Barclays lowered their price target on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $182.75.

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.