Curi RMB Capital LLC Boosts Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Curi RMB Capital LLC boosted its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,373 shares of the real estate investment trust's stock after buying an additional 7,711 shares during the period. Curi RMB Capital LLC owned approximately 0.28% of EastGroup Properties worth $21,886,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EGP. MML Investors Services LLC increased its position in EastGroup Properties by 9.8% in the third quarter. MML Investors Services LLC now owns 3,874 shares of the real estate investment trust's stock worth $724,000 after purchasing an additional 345 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of EastGroup Properties by 46.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,370 shares of the real estate investment trust's stock valued at $1,267,000 after buying an additional 2,347 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of EastGroup Properties by 23.2% in the 3rd quarter. Tidal Investments LLC now owns 30,905 shares of the real estate investment trust's stock valued at $5,774,000 after acquiring an additional 5,811 shares during the last quarter. Franklin Resources Inc. increased its stake in EastGroup Properties by 337.0% during the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock worth $8,728,000 after acquiring an additional 37,863 shares during the last quarter. Finally, Legacy Wealth Management LLC MS purchased a new stake in EastGroup Properties during the third quarter valued at approximately $296,000. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

EastGroup Properties stock traded up $3.02 during mid-day trading on Tuesday, reaching $158.93. 389,803 shares of the company traded hands, compared to its average volume of 365,745. The firm's fifty day moving average is $172.10 and its two-hundred day moving average is $170.96. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12.

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

EastGroup Properties Announces Dividend

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

Analyst Ratings Changes

EGP has been the subject of a number of analyst reports. Evercore ISI restated an "in-line" rating and issued a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price objective on the stock. Raymond James set a $190.00 price target on EastGroup Properties and gave the stock a "strong-buy" rating in a report on Monday, April 14th. Piper Sandler dropped their price objective on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Robert W. Baird increased their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $188.24.

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.