By otakuyassine3@gmail.com 
Keybank National Association OH boosted its position in shares of EastGroup Properties, Inc. (NYSE:EGP – Free Report) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,564 shares of the real estate investment trust’s stock after purchasing an additional 144 shares during the period. Keybank National Association OH’s holdings in EastGroup Properties were worth $411,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of EastGroup Properties by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 650,612 shares of the real estate investment trust’s stock worth $104,417,000 after buying an additional 10,812 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of EastGroup Properties by 1.7% in the fourth quarter. State of Michigan Retirement System now owns 11,727 shares of the real estate investment trust’s stock worth $1,882,000 after buying an additional 200 shares during the last quarter. Bridges Investment Management Inc. lifted its position in shares of EastGroup Properties by 15.0% in the fourth quarter. Bridges Investment Management Inc. now owns 4,303 shares of the real estate investment trust’s stock worth $691,000 after buying an additional 562 shares during the last quarter. Aew Capital Management L P lifted its position in shares of EastGroup Properties by 5.9% in the fourth quarter. Aew Capital Management L P now owns 70,739 shares of the real estate investment trust’s stock worth $11,353,000 after buying an additional 3,920 shares during the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of EastGroup Properties by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 5,578 shares of the real estate investment trust’s stock worth $895,000 after buying an additional 570 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on EGP. KeyCorp reiterated 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 lifted their price objective for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Truist Financial lifted their price objective on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.65.
Check Out Our Latest Report on EastGroup Properties
EastGroup Properties Trading Down 1.8 %
Shares of EGP opened at $181.03 on Tuesday. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month high of $192.61. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 38.93, a P/E/G ratio of 3.35 and a beta of 0.99. The stock’s 50-day moving average price is $171.86 and its 200 day moving average price is $175.22. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46.
EastGroup Properties (NYSE:EGP – Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.
EastGroup Properties Announces Dividend
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 paid a $1.40 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.09%. EastGroup Properties’s dividend payout ratio is currently 120.43%.
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.
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