Yousif Capital Management LLC Boosts Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Yousif Capital Management LLC raised its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,136 shares of the real estate investment trust’s stock after purchasing an additional 538 shares during the period. Yousif Capital Management LLC’s holdings in EastGroup Properties were worth $4,246,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Pacer Advisors Inc. grew its stake in EastGroup Properties by 15.0% during the fourth quarter. Pacer Advisors Inc. now owns 61,527 shares of the real estate investment trust’s stock valued at $11,293,000 after acquiring an additional 8,002 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in EastGroup Properties by 2.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 361,853 shares of the real estate investment trust’s stock valued at $66,414,000 after acquiring an additional 7,724 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in EastGroup Properties by 3.5% during the third quarter. The Manufacturers Life Insurance Company now owns 272,447 shares of the real estate investment trust’s stock valued at $45,370,000 after acquiring an additional 9,160 shares in the last quarter. Invesco Ltd. grew its stake in EastGroup Properties by 12.7% during the third quarter. Invesco Ltd. now owns 726,446 shares of the real estate investment trust’s stock valued at $120,975,000 after acquiring an additional 81,636 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in EastGroup Properties by 1.3% during the third quarter. Vanguard Group Inc. now owns 6,532,176 shares of the real estate investment trust’s stock valued at $1,087,803,000 after acquiring an additional 81,798 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Insider Activity at EastGroup Properties

In related news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at approximately $18,752,230.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

EastGroup Properties Trading Up 0.1 %

Shares of EGP opened at $155.92 on Friday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.28 and a current ratio of 0.10. EastGroup Properties, Inc. has a fifty-two week low of $154.75 and a fifty-two week high of $188.85. The firm has a 50 day moving average price of $175.34 and a 200-day moving average price of $175.11.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a yield of 3.26%. EastGroup Properties’s dividend payout ratio is currently 110.20%.

Analysts Set New Price Targets

Several equities analysts recently commented on EGP shares. Barclays started coverage on shares of EastGroup Properties in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $181.00 price objective for the company. Evercore ISI dropped their target price on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research report on Friday, February 16th. BMO Capital Markets started coverage on shares of EastGroup Properties in a research report on Monday, April 22nd. They set an “outperform” rating and a $190.00 target price for the company. Finally, KeyCorp lifted their target price on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and a consensus price target of $189.00.

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.