EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA grew its position in EastGroup Properties, Inc. (NYSE:EGP) by 35.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,916 shares of the real estate investment trust’s stock after acquiring an additional 499 shares during the period. Glenmede Trust Co. NA’s holdings in EastGroup Properties were worth $358,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. FMR LLC raised its position in shares of EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after acquiring an additional 629,827 shares during the period. Dimensional Fund Advisors LP raised its position in shares of EastGroup Properties by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust’s stock worth $123,848,000 after acquiring an additional 53,083 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of EastGroup Properties by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust’s stock worth $119,527,000 after acquiring an additional 22,328 shares during the period. Bank of New York Mellon Corp raised its position in shares of EastGroup Properties by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 479,323 shares of the real estate investment trust’s stock worth $81,533,000 after acquiring an additional 2,418 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of EastGroup Properties by 22.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 343,140 shares of the real estate investment trust’s stock worth $64,105,000 after acquiring an additional 62,381 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Up 0.0 %

Shares of NYSE EGP opened at $169.83 on Thursday. EastGroup Properties, Inc. has a 12-month low of $155.23 and a 12-month high of $192.61. The stock has a market cap of $8.41 billion, a PE ratio of 35.09, a P/E/G ratio of 2.22 and a beta of 0.99. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $176.69 and a 200 day moving average of $177.42.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $161.52 million. During the same period last year, the company earned $1.95 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, sell-side analysts predict that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.40 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.30%. EastGroup Properties’s dividend payout ratio (DPR) is 115.70%.

Analyst Ratings Changes

A number of brokerages have weighed in on EGP. Evercore ISI upped their price objective on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Mizuho raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. StockNews.com cut shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Barclays cut 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. Finally, Wedbush reissued an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $191.21.

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.