Enclave Advisors LLC Sells 184 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Enclave Advisors LLC lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,392 shares of the real estate investment trust’s stock after selling 184 shares during the period. Enclave Advisors LLC’s holdings in EastGroup Properties were worth $1,828,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp grew its position in shares of EastGroup Properties by 2.1% in 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 during the last quarter. FMR LLC boosted its stake in EastGroup Properties by 67.9% in the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after purchasing an additional 629,827 shares during the period. Geode Capital Management LLC grew its holdings in EastGroup Properties by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust’s stock valued at $168,032,000 after buying an additional 10,435 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in EastGroup Properties by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust’s stock worth $119,527,000 after buying an additional 22,328 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of EastGroup Properties by 355.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock worth $73,158,000 after buying an additional 305,555 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Up 5.2 %

Shares of NYSE EGP opened at $169.86 on Wednesday. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.91 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. EastGroup Properties, Inc. has a 12 month low of $155.10 and a 12 month high of $192.61. The stock has a 50-day moving average price of $166.10 and a two-hundred day moving average price of $176.76.

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

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.30%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EGP shares. Royal Bank of Canada restated a “sector perform” rating and issued a $186.00 price target on shares of EastGroup Properties in a research note on Wednesday, October 30th. Barclays decreased their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Wells Fargo & Company reduced their price target on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Morgan Stanley lowered their price objective on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.88.

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.