Daiwa Securities Group Inc. Has $113.58 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

Daiwa Securities Group Inc. grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 210.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 707,732 shares of the real estate investment trust's stock after purchasing an additional 479,873 shares during the quarter. Daiwa Securities Group Inc. owned about 1.43% of EastGroup Properties worth $113,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cerity Partners LLC increased its holdings in EastGroup Properties by 35.6% during the third quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust's stock worth $2,545,000 after buying an additional 3,574 shares during the last quarter. Franklin Resources Inc. grew its position in shares of EastGroup Properties by 337.0% in the 3rd quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock valued at $8,728,000 after acquiring an additional 37,863 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of EastGroup Properties by 20.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock worth $261,000 after purchasing an additional 275 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of EastGroup Properties by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust's stock valued at $72,610,000 after purchasing an additional 23,626 shares during the period. Finally, Nordea Investment Management AB lifted its stake in EastGroup Properties by 6.1% in the 4th quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock valued at $11,667,000 after purchasing an additional 4,176 shares during the last quarter. Institutional investors own 92.14% of the company's stock.

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EastGroup Properties Price Performance

Shares of EGP stock traded down $4.64 during trading on Thursday, hitting $176.41. The company had a trading volume of 469,112 shares, compared to its average volume of 325,047. The firm has a market capitalization of $9.18 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The stock's 50-day moving average price is $172.72 and its 200 day moving average price is $175.22.

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 for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Equities analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, March 31st. EastGroup Properties's payout ratio is presently 120.43%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EGP. Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price target on the stock. StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Raymond James raised EastGroup Properties from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $185.00 to $200.00 in a report on Wednesday, December 11th. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a 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 note on Friday, February 14th. Eight 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 company. According to MarketBeat, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average target price of $191.65.

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.