F m Investments LLC Boosts Holdings in EastGroup Properties, Inc. $EGP

F m Investments LLC increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 28.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,401 shares of the real estate investment trust’s stock after acquiring an additional 9,922 shares during the quarter. F m Investments LLC’s holdings in EastGroup Properties were worth $7,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aptus Capital Advisors LLC grew its stake in EastGroup Properties by 15.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 54,849 shares of the real estate investment trust’s stock worth $9,284,000 after buying an additional 7,212 shares during the last quarter. Principal Financial Group Inc. increased its position in EastGroup Properties by 43.5% during the third quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after buying an additional 602,253 shares during the period. Nordea Investment Management AB lifted its stake in EastGroup Properties by 13.4% in the third quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock valued at $13,912,000 after buying an additional 9,776 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of EastGroup Properties by 38.3% in the third quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock valued at $10,403,000 after acquiring an additional 17,009 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of EastGroup Properties by 34.1% in the second quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock valued at $2,289,000 after acquiring an additional 3,480 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EGP has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of EastGroup Properties in a report on Monday, December 29th. Cantor Fitzgerald increased their price target on shares of EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Citigroup raised their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Morgan Stanley set a $205.00 price objective on shares of EastGroup Properties in a research note on Friday, January 16th. Finally, Deutsche Bank Aktiengesellschaft cut shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price for the company. in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus price target of $200.18.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $187.66 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01. The business has a 50 day simple moving average of $187.33 and a 200-day simple moving average of $179.28. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $197.95. The stock has a market capitalization of $10.01 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 3.07 and a beta of 1.10.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.3%. EastGroup Properties’s dividend payout ratio is presently 127.31%.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.