EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Boston Partners

Boston Partners grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 34.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,056,232 shares of the real estate investment trust's stock after acquiring an additional 268,359 shares during the period. Boston Partners owned about 2.13% of EastGroup Properties worth $169,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Canton Hathaway LLC purchased a new position in EastGroup Properties during the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 buying an additional 302 shares during the period. Principal Securities Inc. increased its holdings in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 84 shares during the period. Versant Capital Management Inc increased its holdings in EastGroup Properties by 18.7% during 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 during the period. Finally, Quarry LP purchased a new position in EastGroup Properties during the third quarter valued at approximately $102,000. Institutional investors own 92.14% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a "hold" rating in a report on Friday, February 14th. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Evercore ISI reaffirmed an "in-line" rating and issued a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Raymond James raised shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of 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 report on Thursday, January 2nd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus price target of $190.47.

EastGroup Properties Stock Performance

Shares of EGP traded down $3.76 during trading hours on Friday, reaching $173.11. 1,083,623 shares of the company traded hands, compared to its average volume of 329,279. The stock has a market capitalization of $9.01 billion, a P/E ratio of 37.23, a P/E/G ratio of 3.35 and a beta of 0.99. The business has a fifty day moving average price of $175.44 and a 200-day moving average price of $174.84. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month 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.

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 (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%. Equities analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.23%. EastGroup Properties's dividend payout ratio is presently 120.43%.

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.