EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 514 shares of the real estate investment trust’s stock after acquiring an additional 170 shares during the quarter. First Eagle Investment Management LLC’s holdings in EastGroup Properties were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in EastGroup Properties by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 6,652,922 shares of the real estate investment trust’s stock valued at $1,221,077,000 after purchasing an additional 120,746 shares during the last quarter. Boston Partners increased its stake in EastGroup Properties by 42.7% during the fourth quarter. Boston Partners now owns 756,309 shares of the real estate investment trust’s stock worth $138,813,000 after acquiring an additional 226,169 shares during the last quarter. Dimensional Fund Advisors LP raised its position in EastGroup Properties by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 666,304 shares of the real estate investment trust’s stock valued at $122,295,000 after purchasing an additional 29,479 shares during the period. Eagle Asset Management Inc. lifted its stake in shares of EastGroup Properties by 29.3% in the 4th quarter. Eagle Asset Management Inc. now owns 646,613 shares of the real estate investment trust’s stock valued at $118,679,000 after purchasing an additional 146,381 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of EastGroup Properties by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 584,851 shares of the real estate investment trust’s stock worth $107,344,000 after purchasing an additional 30,136 shares during the period. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Up 0.2 %

NYSE:EGP traded up $0.33 during trading hours on Friday, hitting $187.41. The company’s stock had a trading volume of 73,613 shares, compared to its average volume of 282,636. The stock has a market capitalization of $9.02 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 2.89 and a beta of 0.98. EastGroup Properties, Inc. has a 52-week low of $154.75 and a 52-week high of $189.53. The stock has a fifty day moving average of $168.78 and a 200-day moving average of $173.32. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $1.27 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.08 annualized dividend and a dividend yield of 2.71%. EastGroup Properties’s dividend payout ratio (DPR) is currently 110.20%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays reduced their price objective on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. KeyCorp dropped their target price on shares of EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Piper Sandler decreased their price target on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada dropped their price objective on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research note on Monday, May 6th. Finally, BNP Paribas assumed coverage on EastGroup Properties in a report on Tuesday, June 4th. They set a “neutral” rating and a $167.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $180.69.

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.