waypoint wealth counsel Increases Stake in EastGroup Properties, Inc. (NYSE:EGP)

waypoint wealth counsel boosted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 1.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,400 shares of the real estate investment trust’s stock after acquiring an additional 100 shares during the quarter. waypoint wealth counsel’s holdings in EastGroup Properties were worth $867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. KBC Group NV increased its holdings in shares of EastGroup Properties by 69.6% during the 4th quarter. KBC Group NV now owns 1,989 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 816 shares during the last quarter. Blue Trust Inc. grew its position in EastGroup Properties by 26.0% during the fourth quarter. Blue Trust Inc. now owns 1,242 shares of the real estate investment trust’s stock valued at $199,000 after acquiring an additional 256 shares during the period. Inspire Investing LLC increased its stake in EastGroup Properties by 6.0% during the fourth quarter. Inspire Investing LLC now owns 5,368 shares of the real estate investment trust’s stock worth $862,000 after acquiring an additional 304 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of EastGroup Properties by 629.2% in the 4th quarter. SG Americas Securities LLC now owns 17,216 shares of the real estate investment trust’s stock worth $2,763,000 after purchasing an additional 14,855 shares during the period. Finally, Mechanics Bank Trust Department acquired a new position in shares of EastGroup Properties in the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Up 0.1 %

EGP opened at $169.58 on Monday. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month high of $192.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $8.40 billion, a PE ratio of 35.04, a P/E/G ratio of 3.12 and a beta of 1.00. The firm’s fifty day moving average price is $165.87 and its 200 day moving average price is $176.64.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.30%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

A number of analysts recently issued reports on EGP shares. Truist Financial dropped their target price on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Barclays decreased their price target on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating for the company in a research report on Thursday, October 10th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $209.00 target price on shares of EastGroup Properties in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $190.88.

EastGroup Properties Company 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.