Jain Global LLC Has $12.66 Million Stock Position in EastGroup Properties, Inc. $EGP

Jain Global LLC lifted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 38.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,819 shares of the real estate investment trust’s stock after purchasing an additional 20,812 shares during the period. Jain Global LLC owned 0.14% of EastGroup Properties worth $12,664,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its stake in EastGroup Properties by 159.7% in the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 99 shares during the period. State of Wyoming acquired a new position in shares of EastGroup Properties during the 2nd quarter worth about $27,000. MAI Capital Management increased its stake in shares of EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 82 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of EastGroup Properties in the 3rd quarter valued at about $34,000. Finally, Mather Group LLC. acquired a new stake in shares of EastGroup Properties in the 3rd quarter valued at approximately $35,000. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

Shares of EGP opened at $187.66 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01. The stock has a 50 day simple moving average of $187.33 and a 200 day simple moving average of $179.44. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $197.95. The firm has a market capitalization of $10.01 billion, a PE ratio of 38.53, a P/E/G ratio of 3.05 and a beta of 1.10.

EastGroup Properties Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley set a $205.00 price objective on shares of EastGroup Properties in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft downgraded shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price for the company. in a research note on Monday, January 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EastGroup Properties in a report on Monday, December 29th. Royal Bank Of Canada lifted their price target on shares of EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 18th. Finally, Barclays upgraded shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.18.

EastGroup Properties Company Profile

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.