Barclays PLC Grows Position in EastGroup Properties, Inc. (NYSE:EGP)

Barclays PLC lifted its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 92.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,581 shares of the real estate investment trust's stock after purchasing an additional 29,521 shares during the quarter. Barclays PLC owned 0.12% of EastGroup Properties worth $9,883,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EGP. Vanguard Group Inc. grew its position in EastGroup Properties by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock valued at $1,121,978,000 after buying an additional 72,199 shares during the period. FMR LLC boosted its stake in shares of EastGroup Properties by 1.4% during the 4th quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust's stock worth $253,496,000 after acquiring an additional 21,432 shares in the last quarter. Boston Partners grew its position in shares of EastGroup Properties by 34.1% during the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock valued at $169,533,000 after acquiring an additional 268,359 shares during the period. Geode Capital Management LLC increased its stake in shares of EastGroup Properties by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 914,532 shares of the real estate investment trust's stock valued at $146,816,000 after purchasing an additional 15,313 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in EastGroup Properties in the 4th quarter worth about $116,756,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James set a $190.00 price objective on EastGroup Properties and gave the company a "strong-buy" rating in a report on Monday, April 14th. Evercore ISI reissued an "in-line" rating and issued a $185.00 price target (up previously from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. Truist Financial raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a report on Thursday, April 10th. Robert W. Baird increased their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley cut their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $188.13.

EastGroup Properties Stock Up 1.9 %

Shares of NYSE:EGP opened at $158.93 on Wednesday. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61. The stock has a market cap of $8.31 billion, a P/E ratio of 34.18, a PEG ratio of 3.35 and a beta of 0.94. The business has a fifty day moving average of $172.10 and a two-hundred day moving average of $170.96. 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 (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 (EPS) 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%. On average, research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Monday, March 31st. EastGroup Properties's payout ratio is presently 120.43%.

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.

Want to see what other hedge funds are holding EGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EastGroup Properties, Inc. (NYSE:EGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.