Asset Management One Co. Ltd. Grows Position in EastGroup Properties, Inc. (NYSE:EGP)

Asset Management One Co. Ltd. raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,939 shares of the real estate investment trust’s stock after purchasing an additional 1,161 shares during the quarter. Asset Management One Co. Ltd.’s holdings in EastGroup Properties were worth $14,993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EGP. V Square Quantitative Management LLC lifted its holdings in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 61 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 302 shares during the last quarter. Versant Capital Management Inc lifted its holdings in EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 95 shares during the last quarter. Quarry LP purchased a new stake in EastGroup Properties during the third quarter valued at about $102,000. Finally, Blue Trust Inc. lifted its holdings 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 purchasing an additional 256 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Trading Down 0.4 %

EGP stock opened at $179.64 on Friday. The company has a market capitalization of $8.89 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 3.23 and a beta of 1.00. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61. The company’s 50 day moving average price is $166.53 and its two-hundred day moving average price is $175.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%. As a group, analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, December 31st. EastGroup Properties’s payout ratio is 120.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective for the company. KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. StockNews.com upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $186.00 price objective on shares of EastGroup Properties in a research report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.53.

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.