Van ECK Associates Corp Has $2.91 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Van ECK Associates Corp grew its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,854 shares of the real estate investment trust’s stock after purchasing an additional 2,256 shares during the period. Van ECK Associates Corp’s holdings in EastGroup Properties were worth $2,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intrust Bank NA acquired a new position in EastGroup Properties during the fourth quarter worth $209,000. Retirement Systems of Alabama increased its holdings in EastGroup Properties by 2.4% during the fourth quarter. Retirement Systems of Alabama now owns 58,026 shares of the real estate investment trust’s stock worth $10,650,000 after buying an additional 1,340 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in EastGroup Properties by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 347,083 shares of the real estate investment trust’s stock worth $63,763,000 after buying an additional 17,128 shares during the last quarter. Yousif Capital Management LLC increased its holdings in EastGroup Properties by 2.4% during the fourth quarter. Yousif Capital Management LLC now owns 23,136 shares of the real estate investment trust’s stock worth $4,246,000 after buying an additional 538 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in EastGroup Properties during the fourth quarter worth $31,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Trading Down 0.8 %

Shares of EastGroup Properties stock opened at $158.59 on Tuesday. EastGroup Properties, Inc. has a 52-week low of $154.75 and a 52-week high of $188.85. The firm has a 50-day moving average of $171.98 and a 200-day moving average of $174.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $7.63 billion, a PE ratio of 34.40, a PEG ratio of 2.78 and a beta of 0.96.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given 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 yield of 3.20%. EastGroup Properties’s dividend payout ratio is 110.20%.

Analyst Ratings Changes

A number of brokerages recently weighed in on EGP. BMO Capital Markets began coverage on shares of EastGroup Properties in a report on Monday, April 22nd. They set an “outperform” rating and a $190.00 target price on the stock. Mizuho reaffirmed a “neutral” rating and set a $185.00 price objective on shares of EastGroup Properties in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their price objective on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research report on Monday. Robert W. Baird reduced their price objective on shares of EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Evercore ISI reduced their price objective on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $184.00.

Insider Buying and Selling

In related news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the sale, the chief financial officer now owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

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.