Aew Capital Management L P Boosts Stake in EastGroup Properties, Inc. (NYSE:EGP)

Aew Capital Management L P increased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,739 shares of the real estate investment trust's stock after purchasing an additional 3,920 shares during the quarter. Aew Capital Management L P owned 0.14% of EastGroup Properties worth $11,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Canton Hathaway LLC bought a new position in EastGroup Properties during the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 period. Principal Securities Inc. boosted its holdings in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 84 shares during the last quarter. Quarry LP bought a new stake in EastGroup Properties in the 3rd quarter worth approximately $102,000. Finally, Versant Capital Management Inc raised its stake in EastGroup Properties by 18.7% during the 4th 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 during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

EGP has been the subject of several research analyst reports. Morgan Stanley cut their price objective on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and upped their price target for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price objective on the stock. Truist Financial upped their price objective on EastGroup Properties from $168.00 to $180.00 and gave the stock a "hold" rating in a research note on Friday, February 14th. Finally, KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $191.65.

EastGroup Properties Price Performance

EastGroup Properties stock traded up $3.77 during midday trading on Wednesday, reaching $187.88. 387,025 shares of the stock traded hands, compared to its average volume of 319,349. The stock has a market cap of $9.77 billion, a P/E ratio of 40.40, a PEG ratio of 3.35 and a beta of 1.00. The stock's fifty day moving average is $170.03 and its 200-day moving average is $175.20. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a 12 month low of $155.10 and a 12 month high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results 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 net margin of 35.57% and a return on equity of 7.89%. As a group, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

About EastGroup Properties

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.