Castellan Group Takes Position in EastGroup Properties, Inc. (NYSE:EGP)

Castellan Group acquired a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,569 shares of the real estate investment trust's stock, valued at approximately $3,622,000. EastGroup Properties makes up about 1.6% of Castellan Group's investment portfolio, making the stock its 24th biggest position.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in EastGroup Properties by 2.1% during the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust's stock worth $456,872,000 after buying an additional 49,268 shares during the last quarter. FMR LLC grew its position in shares of EastGroup Properties by 67.9% in the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock valued at $291,081,000 after acquiring an additional 629,827 shares during the period. Geode Capital Management LLC increased its stake in shares of EastGroup Properties by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust's stock worth $168,032,000 after purchasing an additional 10,435 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of EastGroup Properties by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust's stock valued at $119,527,000 after purchasing an additional 22,328 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in EastGroup Properties by 50.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 517,770 shares of the real estate investment trust's stock valued at $83,098,000 after purchasing an additional 174,630 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Trading Down 0.4 %

NYSE EGP traded down $0.78 on Monday, reaching $179.64. The company had a trading volume of 422,976 shares, compared to its average volume of 372,462. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The business has a 50 day moving average of $166.53 and a two-hundred day moving average of $175.31. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 38.63, a P/E/G ratio of 3.23 and a beta of 1.00.

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 EPS for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%. Analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.12%. EastGroup Properties's payout ratio is 120.43%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Raymond James raised EastGroup Properties from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Wedbush reissued an "outperform" rating and set a $209.00 target price on shares of EastGroup Properties in a report on Friday, October 25th. Truist Financial raised their price target on EastGroup Properties from $168.00 to $180.00 and gave the company a "hold" rating in a report on Friday. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Finally, StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Eight investment 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $190.53.

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.