Copeland Capital Management LLC Buys Shares of 1,165 EastGroup Properties, Inc. (NYSE:EGP)

Copeland Capital Management LLC bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,165 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EGP. Gradient Investments LLC bought a new stake in shares of EastGroup Properties during the 2nd quarter valued at $32,000. V Square Quantitative Management LLC grew its holdings in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 61 shares during the period. Quest Partners LLC grew its holdings in shares of EastGroup Properties by 10,400.0% in the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 208 shares during the period. Mather Group LLC. acquired a new position in shares of EastGroup Properties in the 1st quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of EastGroup Properties by 30.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 80 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EGP. Royal Bank of Canada upped their target price on shares of EastGroup Properties from $172.00 to $186.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 30th. Barclays reduced their target price on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research note on Thursday, October 10th. Wedbush increased their price objective on shares of EastGroup Properties from $208.00 to $209.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial increased their price objective on shares of EastGroup Properties from $176.00 to $190.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company upgraded shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $179.00 to $214.00 in a research note on Wednesday, August 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.73.

EastGroup Properties Trading Up 0.4 %

Shares of EGP stock opened at $180.22 on Wednesday. The firm has a 50 day moving average price of $184.33 and a two-hundred day moving average price of $175.33. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $8.68 billion, a PE ratio of 39.09, a price-to-earnings-growth ratio of 2.65 and a beta of 0.99. EastGroup Properties, Inc. has a 12-month low of $154.75 and a 12-month high of $192.61.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.91). EastGroup Properties had a net margin of 37.16% and a return on equity of 8.69%. The business had revenue of $159.09 million during the quarter, compared to analyst estimates of $156.70 million. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts predict that EastGroup Properties, Inc. will post 8.32 earnings per share for the current year.

EastGroup Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.11%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.27. The ex-dividend date was Monday, September 30th. EastGroup Properties’s dividend payout ratio (DPR) is 121.48%.

EastGroup Properties 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.