Cbre Investment Management Listed Real Assets LLC Takes $8.61 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

Cbre Investment Management Listed Real Assets LLC purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,625 shares of the real estate investment trust's stock, valued at approximately $8,606,000. Cbre Investment Management Listed Real Assets LLC owned about 0.11% of EastGroup Properties at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EGP. Canton Hathaway LLC acquired a new stake in shares of EastGroup Properties in the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of EastGroup Properties by 503.3% in 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 last quarter. Principal Securities Inc. grew its position in shares of EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 84 shares during the last quarter. Versant Capital Management Inc boosted its position 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 worth $97,000 after acquiring an additional 95 shares during the last quarter. Finally, Quarry LP acquired a new stake in EastGroup Properties during the third quarter worth approximately $102,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a "buy" rating and a $180.00 target price on the stock. Jefferies Financial Group upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and raised their target price for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. KeyCorp restated a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Truist Financial raised their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a "hold" rating in a research report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $191.65.

EastGroup Properties Trading Down 0.6 %

Shares of EGP stock traded down $1.04 during mid-day trading on Friday, reaching $184.51. The company's stock had a trading volume of 562,513 shares, compared to its average volume of 321,548. The company's 50 day simple moving average is $171.00 and its 200-day simple moving average is $175.36. 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. The firm has a market capitalization of $9.60 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (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 7.89%. On average, research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.04%. EastGroup Properties's dividend payout ratio (DPR) is 120.43%.

EastGroup Properties 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.