Bank of New York Mellon Corp Has $72.61 Million Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Bank of New York Mellon Corp lifted its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,429 shares of the real estate investment trust's stock after acquiring an additional 23,626 shares during the period. Bank of New York Mellon Corp owned approximately 0.91% of EastGroup Properties worth $72,610,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EGP. Creative Planning grew its holdings in shares of EastGroup Properties by 4.8% in the 3rd quarter. Creative Planning now owns 2,555 shares of the real estate investment trust's stock valued at $477,000 after buying an additional 117 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in EastGroup Properties by 35.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,869 shares of the real estate investment trust's stock valued at $351,000 after acquiring an additional 488 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in 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 valued at $252,000 after acquiring an additional 90 shares during the period. abrdn plc increased its holdings in shares of EastGroup Properties by 10.3% in the third quarter. abrdn plc now owns 9,913 shares of the real estate investment trust's stock worth $1,852,000 after acquiring an additional 924 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of EastGroup Properties by 13.8% during the third quarter. Van ECK Associates Corp now owns 20,448 shares of the real estate investment trust's stock worth $3,705,000 after purchasing an additional 2,481 shares during the period. Institutional investors own 92.14% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on EGP. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Raymond James raised shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and upped their target price for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, EastGroup Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.65.

EastGroup Properties Stock Up 0.0 %

Shares of NYSE EGP traded up $0.06 during trading hours on Friday, hitting $185.61. The company had a trading volume of 255,420 shares, compared to its average volume of 320,144. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The firm's 50 day moving average is $170.54 and its 200-day moving average is $175.29. The stock has a market capitalization of $9.66 billion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99.

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 the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Company 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.