EastGroup Properties, Inc. (NYSE:EGP) Stock Holdings Boosted by Centersquare Investment Management LLC

Centersquare Investment Management LLC lifted its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 461,533 shares of the real estate investment trust's stock after acquiring an additional 91,953 shares during the period. Centersquare Investment Management LLC owned approximately 0.93% of EastGroup Properties worth $74,071,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Crowley Wealth Management Inc. purchased a new stake in shares of EastGroup Properties in the fourth quarter worth about $29,000. Canton Hathaway LLC acquired a new stake in EastGroup Properties during the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock worth $58,000 after buying an additional 302 shares during the period. Principal Securities Inc. lifted its holdings in EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after buying an additional 84 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in EastGroup Properties by 18.7% in the 4th 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 last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley reduced their price target on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Raymond James raised shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target on the stock. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Finally, Truist Financial upped their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a "hold" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $189.00.

EastGroup Properties Stock Performance

EGP stock traded down $3.19 during mid-day trading on Wednesday, reaching $142.10. The company had a trading volume of 539,831 shares, compared to its average volume of 473,027. The stock's 50-day simple moving average is $175.88 and its two-hundred day simple moving average is $173.06. The stock has a market capitalization of $7.39 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.35 and a beta of 0.94. 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, Inc. has a one year low of $137.67 and a one year high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data 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 return on equity of 7.89% and a net margin of 35.57%. Research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Monday, March 31st. EastGroup Properties's dividend payout ratio is currently 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.