EastGroup Properties, Inc. (NYSE:EGP) Stock Position Lifted by abrdn plc

abrdn plc grew its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 58.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,662 shares of the real estate investment trust's stock after acquiring an additional 5,749 shares during the quarter. abrdn plc's holdings in EastGroup Properties were worth $2,524,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EGP. V Square Quantitative Management LLC increased its holdings in EastGroup Properties by 47.7% in the 3rd 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of EastGroup Properties by 7.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust's stock worth $252,000 after buying an additional 90 shares during the period. Versant Capital Management Inc grew its stake in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 95 shares in the last quarter. waypoint wealth counsel raised its holdings in shares of EastGroup Properties by 1.9% during the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after buying an additional 100 shares during the period. Finally, UMB Bank n.a. lifted its position in EastGroup Properties by 7.7% during the 3rd quarter. UMB Bank n.a. now owns 1,598 shares of the real estate investment trust's stock worth $299,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Stock Performance

NYSE EGP traded up $1.69 during trading hours on Thursday, reaching $180.55. The company's stock had a trading volume of 423,181 shares, compared to its average volume of 432,116. The stock has a market cap of $8.94 billion, a PE ratio of 38.83, a PEG ratio of 3.23 and a beta of 1.00. The business has a 50-day simple moving average of $166.30 and a 200 day simple moving average of $175.52. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57.

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

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.10%. EastGroup Properties's dividend payout ratio (DPR) is presently 120.43%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EGP. KeyCorp reaffirmed a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Jefferies Financial Group upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Wells Fargo & Company decreased their price objective on shares of EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley dropped their target price on 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. Eight equities research 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $190.88.

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.