Metis Global Partners LLC Raises Stake in EastGroup Properties, Inc. $EGP

Metis Global Partners LLC boosted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 36.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,821 shares of the real estate investment trust’s stock after purchasing an additional 3,136 shares during the quarter. Metis Global Partners LLC’s holdings in EastGroup Properties were worth $2,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 945 shares during the period. Goldman Sachs Group Inc. grew its position in shares of EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock valued at $33,494,000 after purchasing an additional 41,538 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after purchasing an additional 12,003 shares during the period. Focus Partners Wealth raised its position in shares of EastGroup Properties by 2.2% in the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of EastGroup Properties by 16.4% in the second quarter. Concurrent Investment Advisors LLC now owns 2,775 shares of the real estate investment trust’s stock worth $464,000 after buying an additional 391 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Up 1.9%

Shares of NYSE EGP opened at $190.88 on Monday. The stock has a market capitalization of $10.18 billion, a P/E ratio of 39.19, a PEG ratio of 2.79 and a beta of 1.11. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $193.14. The firm’s 50 day simple moving average is $183.01 and its two-hundred day simple moving average is $175.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $1.55 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.20 annualized dividend and a dividend yield of 3.2%. EastGroup Properties’s payout ratio is currently 127.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EGP shares. Robert W. Baird set a $203.00 target price on EastGroup Properties in a research note on Wednesday. iA Financial set a $200.00 price objective on shares of EastGroup Properties in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of EastGroup Properties in a research note on Monday, December 29th. Evercore set a $188.00 price target on shares of EastGroup Properties in a research note on Friday, February 6th. Finally, BNP Paribas Exane raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $207.00 price target on the stock in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.89.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.