EntryPoint Capital LLC Has $467,000 Holdings in EastGroup Properties, Inc. (NYSE:EGP)

EntryPoint Capital LLC raised its stake in EastGroup Properties, Inc. (NYSE:EGP) by 111.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,912 shares of the real estate investment trust’s stock after purchasing an additional 1,534 shares during the period. EntryPoint Capital LLC’s holdings in EastGroup Properties were worth $467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in shares of EastGroup Properties in the fourth quarter valued at about $29,000. Canton Hathaway LLC bought a new stake in shares of EastGroup Properties in the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 302 shares in the last quarter. Principal Securities Inc. increased its position in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 84 shares during the period. Finally, Quarry LP acquired a new position in shares of EastGroup Properties in the third quarter valued at $102,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Down 0.6 %

NYSE:EGP opened at $175.28 on Wednesday. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The stock’s fifty day moving average price is $176.05 and its two-hundred day moving average price is $174.62. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.19%. EastGroup Properties’s dividend payout ratio is 120.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on EGP shares. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $185.00 to $200.00 in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, Robert W. Baird raised their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.47.

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.