Aew Capital Management L P Boosts Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Aew Capital Management L P lifted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,739 shares of the real estate investment trust’s stock after buying an additional 3,920 shares during the quarter. Aew Capital Management L P owned about 0.14% of EastGroup Properties worth $11,353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning boosted its holdings in shares of EastGroup Properties by 4.8% in the third quarter. Creative Planning now owns 2,555 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 117 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in EastGroup Properties by 35.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,869 shares of the real estate investment trust’s stock worth $351,000 after purchasing an additional 488 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in EastGroup Properties by 7.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 90 shares in the last quarter. abrdn plc grew its holdings in EastGroup Properties by 10.3% during the 3rd quarter. abrdn plc now owns 9,913 shares of the real estate investment trust’s stock valued at $1,852,000 after buying an additional 924 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of EastGroup Properties by 6.4% during the third quarter. New York State Common Retirement Fund now owns 203,806 shares of the real estate investment trust’s stock valued at $38,075,000 after buying an additional 12,234 shares during the period. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Trading Up 1.7 %

NYSE:EGP opened at $183.10 on Friday. The firm has a market capitalization of $9.53 billion, a P/E ratio of 39.38, a P/E/G ratio of 3.35 and a beta of 1.00. 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 company has a fifty day moving average of $169.10 and a 200 day moving average of $175.26. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61.

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

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.06%. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price on the stock. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and boosted their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Wells Fargo & Company decreased their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.65.

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.