Eastgroup Properties Inc (NYSE:EGP) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $138.36 and last traded at $137.93, with a volume of 12473 shares trading hands. The stock had previously closed at $137.55.

Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Eastgroup Properties from $120.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 10th. Stifel Nicolaus set a $145.00 price target on shares of Eastgroup Properties and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, ValuEngine downgraded shares of Eastgroup Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $134.00.

The firm has a 50 day simple moving average of $133.13 and a two-hundred day simple moving average of $127.81. The firm has a market capitalization of $5.29 billion, a P/E ratio of 56.15, a PEG ratio of 5.83 and a beta of 0.74.

Eastgroup Properties (NYSE:EGP) last issued its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.65). Eastgroup Properties had a net margin of 28.07% and a return on equity of 9.16%. The company had revenue of $83.94 million for the quarter, compared to the consensus estimate of $83.24 million. During the same quarter last year, the business posted $1.17 earnings per share. Eastgroup Properties’s revenue was up 11.4% on a year-over-year basis. Research analysts expect that Eastgroup Properties Inc will post 4.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from Eastgroup Properties’s previous quarterly dividend of $0.72. This represents a $3.00 annualized dividend and a yield of 2.17%. Eastgroup Properties’s dividend payout ratio (DPR) is 64.24%.

In other Eastgroup Properties news, Director David H. Hoster II sold 6,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $132.84, for a total transaction of $797,040.00. Following the transaction, the director now directly owns 167,646 shares in the company, valued at approximately $22,270,094.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of EGP. Strategic Blueprint LLC bought a new stake in shares of Eastgroup Properties during the 3rd quarter worth $25,000. Point72 Hong Kong Ltd bought a new stake in shares of Eastgroup Properties during the 2nd quarter worth $37,000. Quest Capital Management Inc. ADV bought a new stake in shares of Eastgroup Properties during the 3rd quarter worth $49,000. Tower Research Capital LLC TRC raised its stake in shares of Eastgroup Properties by 1,773.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 562 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 532 shares during the period. Finally, Evoke Wealth LLC bought a new stake in shares of Eastgroup Properties during the 3rd quarter worth $117,000. Institutional investors and hedge funds own 89.61% of the company’s stock.

Eastgroup Properties Company Profile (NYSE:EGP)

EastGroup Properties, Inc 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.

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