Nordea Investment Management AB Purchases 4,176 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Nordea Investment Management AB increased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 72,392 shares of the real estate investment trust’s stock after purchasing an additional 4,176 shares during the period. Nordea Investment Management AB owned 0.15% of EastGroup Properties worth $11,667,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC lifted its position in shares of EastGroup Properties by 47.7% in the third 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 last quarter. Quest Partners LLC boosted its position in EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the period. Headlands Technologies LLC acquired a new position in shares of EastGroup Properties in the second quarter valued at $66,000. Versant Capital Management Inc increased its holdings in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 95 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of EastGroup Properties by 90.7% in the third quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

NYSE EGP opened at $158.51 on Thursday. EastGroup Properties, Inc. has a 1 year low of $155.23 and a 1 year high of $192.61. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 32.75, a P/E/G ratio of 2.23 and a beta of 1.00. 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 firm’s 50 day simple moving average is $168.23 and its 200 day simple moving average is $177.26.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) 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 business had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. During the same quarter in the previous year, the business posted $1.95 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, research analysts expect that EastGroup Properties, Inc. will post 8.35 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, December 31st. EastGroup Properties’s payout ratio is 115.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EGP shares. Wells Fargo & Company decreased their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. Finally, Wedbush reissued an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.56.

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.