EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Curi RMB Capital LLC

Curi RMB Capital LLC increased its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,662 shares of the real estate investment trust’s stock after buying an additional 1,283 shares during the quarter. Curi RMB Capital LLC owned about 0.26% of EastGroup Properties worth $24,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of EastGroup Properties by 6.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,934 shares of the real estate investment trust’s stock valued at $707,000 after buying an additional 244 shares during the last quarter. Swiss National Bank lifted its holdings in EastGroup Properties by 2.2% in the first quarter. Swiss National Bank now owns 91,387 shares of the real estate investment trust’s stock valued at $16,429,000 after acquiring an additional 2,000 shares during the period. Entropy Technologies LP lifted its holdings in EastGroup Properties by 4.7% in the first quarter. Entropy Technologies LP now owns 5,141 shares of the real estate investment trust’s stock valued at $924,000 after acquiring an additional 232 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in EastGroup Properties by 4.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 29,186 shares of the real estate investment trust’s stock worth $5,247,000 after purchasing an additional 1,149 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of EastGroup Properties by 49.4% during the 1st quarter. First Eagle Investment Management LLC now owns 514 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Up 0.5 %

EGP stock opened at $175.22 on Thursday. 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 has a 50-day moving average of $181.07 and a two-hundred day moving average of $176.32. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 2.60 and a beta of 1.00.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The company had revenue of $162.88 million during the quarter, compared to analysts’ expectations of $161.52 million. During the same quarter last year, the company earned $1.95 earnings per share. EastGroup Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, analysts forecast that EastGroup Properties, Inc. will post 8.35 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.40 dividend. The ex-dividend date was Monday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.27. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.20%. EastGroup Properties’s dividend payout ratio (DPR) is 115.70%.

Analyst Ratings Changes

EGP has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $186.00 target price on shares of EastGroup Properties in a research note on Wednesday, October 30th. StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Wedbush restated an “outperform” rating and set a $209.00 target price on shares of EastGroup Properties in a research report on Friday, October 25th. Barclays cut their price target on 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, Wells Fargo & Company lowered their price target on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, EastGroup Properties has a consensus rating of “Hold” and a consensus target price of $191.21.

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.