Los Angeles Capital Management LLC Acquires Shares of 37,745 EastGroup Properties, Inc. (NYSE:EGP)

Los Angeles Capital Management LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,745 shares of the real estate investment trust's stock, valued at approximately $6,058,000. Los Angeles Capital Management LLC owned 0.08% of EastGroup Properties as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock valued at $291,081,000 after buying an additional 629,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of EastGroup Properties by 355.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust's stock worth $73,158,000 after purchasing an additional 305,555 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of EastGroup Properties by 50.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 517,770 shares of the real estate investment trust's stock worth $83,098,000 after acquiring an additional 174,630 shares in the last quarter. Vision Capital Corp purchased a new position in shares of EastGroup Properties during the 3rd quarter valued at approximately $18,308,000. Finally, Janus Henderson Group PLC raised its position in EastGroup Properties by 18.5% during the third quarter. Janus Henderson Group PLC now owns 387,972 shares of the real estate investment trust's stock worth $72,438,000 after acquiring an additional 60,624 shares during the period. Institutional investors own 92.14% of the company's stock.

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Wall Street Analysts Forecast Growth

EGP has been the topic of a number of research analyst reports. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and lifted their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Morgan Stanley decreased their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. KeyCorp restated a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company dropped their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $191.65.

EastGroup Properties Stock Performance

EastGroup Properties stock traded up $3.11 during mid-day trading on Friday, reaching $183.10. 703,934 shares of the company were exchanged, compared to its average volume of 430,088. EastGroup Properties, Inc. has a twelve month low of $155.10 and a twelve month high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The firm's 50-day simple moving average is $169.10 and its two-hundred day simple moving average is $175.21. The firm has a market cap of $9.53 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Equities analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.06%. EastGroup Properties's payout ratio is 120.43%.

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.