EntryPoint Capital LLC Has $467,000 Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

EntryPoint Capital LLC grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 111.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,912 shares of the real estate investment trust's stock after buying an additional 1,534 shares during the quarter. EntryPoint Capital LLC's holdings in EastGroup Properties were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC grew its holdings in EastGroup Properties by 35.6% during the 3rd quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust's stock worth $2,545,000 after acquiring an additional 3,574 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of 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 valued at $8,728,000 after purchasing an additional 37,863 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of EastGroup Properties by 20.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock valued at $261,000 after purchasing an additional 275 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 worth $72,610,000 after purchasing an additional 23,626 shares during the last quarter. Finally, BankPlus Trust Department acquired a new position in EastGroup Properties during the 4th quarter worth $1,871,000. Institutional investors and hedge funds own 92.14% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EGP shares. StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Morgan Stanley dropped their price objective 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. Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and raised their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Evercore ISI reissued an "in-line" rating and set a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. Finally, Truist Financial raised their price objective 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. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $190.47.

EastGroup Properties Stock Down 0.3 %

Shares of EGP traded down $0.62 on Friday, hitting $176.19. The company's stock had a trading volume of 411,188 shares, compared to its average volume of 344,338. The firm's fifty day moving average price is $176.92 and its 200-day moving average price is $174.51. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week 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 $9.17 billion, a price-to-earnings ratio of 37.89, a P/E/G 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 for the quarter, beating 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, equities research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.18%. EastGroup Properties's dividend payout ratio is currently 120.43%.

About EastGroup Properties

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.