EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP – Get Rating) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,980 shares of the real estate investment trust’s stock after purchasing an additional 133 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in EastGroup Properties were worth $5,008,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Consolidated Planning Corp purchased a new position in EastGroup Properties in the third quarter valued at about $29,000. Total Clarity Wealth Management Inc. acquired a new position in EastGroup Properties in the fourth quarter valued at approximately $57,000. Huntington National Bank boosted its stake in EastGroup Properties by 25.8% in the fourth quarter. Huntington National Bank now owns 542 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 111 shares during the period. Lindbrook Capital LLC boosted its stake in EastGroup Properties by 744.2% in the fourth quarter. Lindbrook Capital LLC now owns 802 shares of the real estate investment trust’s stock valued at $183,000 after acquiring an additional 707 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of EastGroup Properties during the third quarter worth approximately $144,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

NYSE:EGP traded up $6.35 during trading hours on Tuesday, hitting $206.66. 3,858 shares of the stock traded hands, compared to its average volume of 233,424. The business’s 50 day simple moving average is $195.66. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.92. EastGroup Properties, Inc. has a fifty-two week low of $148.69 and a fifty-two week high of $229.84. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 53.13, a price-to-earnings-growth ratio of 4.12 and a beta of 0.86.

EastGroup Properties (NYSE:EGP – Get Rating) last announced its earnings results on Monday, February 7th. The real estate investment trust reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.96. EastGroup Properties had a net margin of 38.48% and a return on equity of 11.09%. The company had revenue of $107.37 million for the quarter, compared to the consensus estimate of $106.38 million. During the same period in the previous year, the business earned $1.38 EPS. The company’s revenue was up 15.9% on a year-over-year basis. Equities analysts anticipate that EastGroup Properties, Inc. will post 6.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Wednesday, March 30th. EastGroup Properties’s dividend payout ratio is currently 113.11%.

Several brokerages have recently issued reports on EGP. StockNews.com began coverage on EastGroup Properties in a research report on Thursday, March 31st. They set a “hold” rating for the company. BTIG Research upped their target price on EastGroup Properties from $164.00 to $248.00 and gave the stock a “buy” rating in a research report on Thursday, December 23rd. Zacks Investment Research downgraded EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company cut their target price on EastGroup Properties from $220.00 to $184.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 15th. Finally, Truist Financial upped their target price on EastGroup Properties from $200.00 to $205.00 in a research report on Tuesday, January 18th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $210.44.

About EastGroup Properties (Get Rating)

EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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.

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