Mercer Global Advisors Inc. ADV Has $4.32 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

Mercer Global Advisors Inc. ADV boosted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 11.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,941 shares of the real estate investment trust’s stock after buying an additional 2,862 shares during the quarter. Mercer Global Advisors Inc. ADV owned approximately 0.05% of EastGroup Properties worth $4,324,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EGP. Crowley Wealth Management Inc. purchased a new stake in shares of EastGroup Properties during the 4th quarter valued at $29,000. Canton Hathaway LLC bought a new stake in EastGroup Properties in the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in EastGroup Properties by 503.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. Principal Securities Inc. grew its position in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 84 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of EastGroup Properties during the 4th quarter worth approximately $100,000. Institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

EGP has been the subject of several research reports. Evercore ISI increased their price objective on EastGroup Properties from $179.00 to $180.00 and gave the company an “in-line” rating in a report on Thursday, April 24th. Robert W. Baird boosted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Sunday, April 27th. Barclays decreased their price objective on EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Finally, Raymond James set a $190.00 target price on EastGroup Properties and gave the stock a “strong-buy” rating in a research note on Monday, April 14th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus price target of $187.00.

EastGroup Properties Stock Down 0.1 %

Shares of EastGroup Properties stock opened at $166.97 on Tuesday. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 35.91, a P/E/G ratio of 3.35 and a beta of 1.05. The company’s 50 day moving average price is $169.20 and its 200-day moving average price is $169.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.01. The business had revenue of $174.45 million during the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. EastGroup Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 EPS. Equities research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $1.40 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.35%. EastGroup Properties’s dividend payout ratio is 122.54%.

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.