Venturi Wealth Management LLC Raises Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Venturi Wealth Management LLC grew its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 69.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 302 shares during the period. Principal Securities Inc. increased its stake in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 84 shares during the period. Quarry LP purchased a new stake in shares of EastGroup Properties during the third quarter worth approximately $102,000. Versant Capital Management Inc increased its stake in shares of EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 95 shares during the period. Finally, Martingale Asset Management L P purchased a new stake in shares of EastGroup Properties during the third quarter worth approximately $202,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EGP shares. Royal Bank of Canada restated a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a research note on Wednesday, October 30th. Morgan Stanley dropped their price target on shares of 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. Truist Financial increased their price target 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. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Finally, Robert W. Baird increased their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus price target of $191.65.

EastGroup Properties Trading Down 0.2 %

NYSE:EGP opened at $179.35 on Friday. The company has a market capitalization of $9.33 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00. 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, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61. The stock has a fifty day simple moving average of $167.39 and a 200-day simple moving average of $175.22.

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 (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, equities research analysts expect 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 was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 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.