Boston Partners Has $169.53 Million Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Boston Partners grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 34.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,056,232 shares of the real estate investment trust’s stock after acquiring an additional 268,359 shares during the quarter. Boston Partners owned 2.13% of EastGroup Properties worth $169,533,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EGP. Natixis Advisors LLC boosted its position in EastGroup Properties by 13.6% during the 3rd quarter. Natixis Advisors LLC now owns 52,679 shares of the real estate investment trust’s stock worth $9,842,000 after acquiring an additional 6,307 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in EastGroup Properties by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 153,736 shares of the real estate investment trust’s stock worth $28,721,000 after acquiring an additional 2,633 shares during the last quarter. Quest Partners LLC boosted its position in EastGroup Properties by 3,258.6% during the 3rd quarter. Quest Partners LLC now owns 7,053 shares of the real estate investment trust’s stock worth $1,318,000 after acquiring an additional 6,843 shares during the last quarter. OneAscent Wealth Management LLC acquired a new position in EastGroup Properties during the 3rd quarter worth approximately $399,000. Finally, Pathstone Holdings LLC boosted its position in EastGroup Properties by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 67,602 shares of the real estate investment trust’s stock worth $12,632,000 after acquiring an additional 542 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on EGP. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded EastGroup Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Robert W. Baird upped 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. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.47.

EastGroup Properties Stock Down 1.2 %

EGP opened at $179.36 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock has a market cap of $9.33 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The stock’s fifty day simple moving average is $174.32 and its 200 day simple moving average is $174.97. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping 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 expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.12%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s payout ratio is 120.43%.

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.