Sei Investments Co. Has $16.94 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Sei Investments Co. raised its stake in EastGroup Properties, Inc. (NYSE:EGP) by 15.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,560 shares of the real estate investment trust’s stock after buying an additional 14,103 shares during the quarter. Sei Investments Co. owned 0.21% of EastGroup Properties worth $16,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGP. Raymond James Financial Inc. acquired a new stake in shares of EastGroup Properties in the 4th quarter valued at approximately $116,756,000. FMR LLC raised its holdings in EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after purchasing an additional 629,827 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of EastGroup Properties by 210.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust’s stock valued at $113,584,000 after buying an additional 479,873 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of EastGroup Properties by 355.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock valued at $73,158,000 after buying an additional 305,555 shares in the last quarter. Finally, Boston Partners raised its stake in EastGroup Properties by 34.1% during the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust’s stock worth $169,533,000 after buying an additional 268,359 shares during the period. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Down 0.7 %

NYSE:EGP opened at $176.63 on Friday. EastGroup Properties, Inc. has a twelve month low of $155.10 and a twelve month high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $176.62 and its two-hundred day moving average price is $174.66. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99.

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

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s payout ratio is presently 120.43%.

Analysts Set New Price Targets

A number of research analysts have issued reports on EGP shares. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price target on the stock. Jefferies Financial Group upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. Finally, Morgan Stanley cut their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.47.

EastGroup Properties 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.