Janus Henderson Group PLC Takes Position in EastGroup Properties, Inc. (EGP)

Janus Henderson Group PLC purchased a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,100 shares of the real estate investment trust’s stock, valued at approximately $1,182,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of EastGroup Properties by 1.4% during the second quarter. Vanguard Group Inc. now owns 5,481,319 shares of the real estate investment trust’s stock valued at $459,334,000 after purchasing an additional 73,355 shares in the last quarter. BlackRock Inc. lifted its position in shares of EastGroup Properties by 2.6% during the second quarter. BlackRock Inc. now owns 4,961,740 shares of the real estate investment trust’s stock valued at $415,793,000 after purchasing an additional 124,476 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of EastGroup Properties by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 2,450,299 shares of the real estate investment trust’s stock valued at $205,335,000 after purchasing an additional 66,858 shares in the last quarter. State Street Corp lifted its position in shares of EastGroup Properties by 6.0% during the first quarter. State Street Corp now owns 1,251,740 shares of the real estate investment trust’s stock valued at $92,041,000 after purchasing an additional 71,139 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. lifted its position in shares of EastGroup Properties by 42.9% during the second quarter. Uniplan Investment Counsel Inc. now owns 779,163 shares of the real estate investment trust’s stock valued at $46,349,000 after purchasing an additional 233,802 shares in the last quarter. 96.39% of the stock is currently owned by institutional investors.

EastGroup Properties, Inc. (EGP) opened at 90.81 on Friday. The stock has a market cap of $3.10 billion, a P/E ratio of 38.06 and a beta of 0.98. The stock has a 50 day moving average of $89.95 and a 200 day moving average of $84.78. EastGroup Properties, Inc. has a 1-year low of $63.99 and a 1-year high of $93.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.61. EastGroup Properties had a net margin of 30.03% and a return on equity of 11.70%. The firm had revenue of $68.75 million for the quarter, compared to analysts’ expectations of $68.74 million. During the same quarter in the prior year, the business earned $1.04 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts anticipate that EastGroup Properties, Inc. will post $2.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, September 14th. This is a boost from EastGroup Properties’s previous quarterly dividend of $0.62. EastGroup Properties’s dividend payout ratio is 107.56%.

Several analysts have commented on the stock. DA Davidson set a $100.00 price objective on shares of EastGroup Properties and gave the stock a “hold” rating in a research report on Friday, October 20th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $79.00 price objective on shares of EastGroup Properties in a research report on Friday, October 20th. ValuEngine raised shares of EastGroup Properties from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Mizuho lowered shares of EastGroup Properties from a “buy” rating to a “neutral” rating in a research report on Monday, October 23rd. Finally, Sandler O’Neill raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $104.00 in a research report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $86.18.

ILLEGAL ACTIVITY NOTICE: “Janus Henderson Group PLC Takes Position in EastGroup Properties, Inc. (EGP)” was originally reported by Community Financial News and is the property of of Community Financial News. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2017/10/29/janus-henderson-group-plc-takes-position-in-eastgroup-properties-inc-egp.html.

EastGroup Properties Company Profile

EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

What are top analysts saying about EastGroup Properties Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for EastGroup Properties Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit