1,091 Shares in EastGroup Properties, Inc. (NYSE:EGP) Bought by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,091 shares of the real estate investment trust’s stock, valued at approximately $200,000.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of EastGroup Properties by 6.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,765 shares of the real estate investment trust’s stock worth $2,958,000 after purchasing an additional 1,035 shares during the period. Mackenzie Financial Corp bought a new position in shares of EastGroup Properties in the third quarter valued at $5,223,000. Advisor Partners II LLC lifted its stake in shares of EastGroup Properties by 54.7% in the third quarter. Advisor Partners II LLC now owns 2,968 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 1,050 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of EastGroup Properties during the third quarter valued at about $450,000. Finally, Inspire Investing LLC increased its position in shares of EastGroup Properties by 4.9% during the third quarter. Inspire Investing LLC now owns 7,825 shares of the real estate investment trust’s stock worth $1,303,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP stock traded up $3.51 during trading hours on Tuesday, hitting $162.09. 356,470 shares of the company were exchanged, compared to its average volume of 289,794. 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 $7.80 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 2.78 and a beta of 0.96. The firm has a fifty day simple moving average of $171.98 and a 200 day simple moving average of $174.81. EastGroup Properties, Inc. has a 52-week low of $154.75 and a 52-week high of $188.85.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio is currently 110.20%.

Insider Buying and Selling at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the sale, the chief financial officer now directly owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EGP shares. Royal Bank of Canada dropped their price target on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating on the stock in a research report on Monday. Robert W. Baird cut their target price on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. KeyCorp decreased their price target on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. JPMorgan Chase & Co. dropped their price objective on EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Finally, BMO Capital Markets assumed coverage on shares of EastGroup Properties in a research note on Monday, April 22nd. They issued an “outperform” rating and a $190.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $184.00.

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.