Xponance Inc. Buys 182 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Xponance Inc. boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,553 shares of the real estate investment trust’s stock after acquiring an additional 182 shares during the period. Xponance Inc.’s holdings in EastGroup Properties were worth $1,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC raised its stake in EastGroup Properties by 5.4% in the third quarter. CWM LLC now owns 1,396 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 71 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of EastGroup Properties by 13.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,589 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 190 shares in the last quarter. Monument Capital Management bought a new stake in shares of EastGroup Properties during the 3rd quarter worth approximately $379,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of EastGroup Properties by 6.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,765 shares of the real estate investment trust’s stock worth $2,958,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in EastGroup Properties in the third quarter valued at approximately $5,223,000. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the transaction, the chief financial officer now owns 102,617 shares in the company, valued at $18,752,230.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

EastGroup Properties Stock Down 1.5 %

EGP stock opened at $155.66 on Friday. The stock’s 50 day simple moving average is $175.93 and its 200 day simple moving average is $175.25. The company has a market cap of $7.47 billion, a P/E ratio of 33.77, a price-to-earnings-growth ratio of 2.63 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.28. EastGroup Properties, Inc. has a fifty-two week low of $154.75 and a fifty-two week high of $188.85.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio is currently 110.20%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EGP shares. Evercore ISI reduced their target price on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a report on Thursday. KeyCorp raised their price objective on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, February 12th. BMO Capital Markets began coverage on EastGroup Properties in a report on Monday. They set an “outperform” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on EastGroup Properties in a report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, Barclays assumed coverage on shares of EastGroup Properties in a report on Wednesday, March 27th. They set an “equal weight” rating and a $181.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Hold” and a consensus price target of $189.00.

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.