Duality Advisers LP Makes New Investment in EastGroup Properties, Inc. (NYSE:EGP)

Duality Advisers LP bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,819 shares of the real estate investment trust’s stock, valued at approximately $334,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its stake in shares of EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 66 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in shares of EastGroup Properties during the 4th quarter worth about $37,000. Tucker Asset Management LLC acquired a new position in shares of EastGroup Properties during the 3rd quarter worth about $44,000. Baker Avenue Asset Management LP boosted its stake in shares of EastGroup Properties by 18.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 72 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of EastGroup Properties by 68.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 494 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 200 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EGP shares. Royal Bank of Canada increased their price objective on shares of EastGroup Properties from $180.00 to $190.00 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. Mizuho reiterated a “neutral” rating and issued a $185.00 target price on shares of EastGroup Properties in a research note on Tuesday, April 2nd. BMO Capital Markets assumed coverage on shares of EastGroup Properties in a research note on Monday, April 22nd. They issued an “outperform” rating and a $190.00 target price for the company. Evercore ISI cut their target price on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. assumed coverage on shares of EastGroup Properties in a research note on Thursday, April 11th. They issued a “neutral” rating and a $190.00 target price for the company. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $189.00.

EastGroup Properties Stock Up 0.1 %

Shares of EGP opened at $155.92 on Friday. EastGroup Properties, Inc. has a 12 month low of $154.75 and a 12 month high of $188.85. The firm’s 50 day moving average is $175.34 and its 200-day moving average is $175.11. The stock has a market capitalization of $7.51 billion, a PE ratio of 33.82, a P/E/G ratio of 2.47 and a beta of 0.93. The company has a current ratio of 0.10, a quick ratio of 0.28 and a debt-to-equity ratio of 0.63.

EastGroup Properties Announces Dividend

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

Insider Transactions at EastGroup Properties

In other news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

About EastGroup Properties

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.