Natixis Acquires Shares of 5,136 EastGroup Properties, Inc. (NYSE:EGP)

Natixis bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,136 shares of the real estate investment trust's stock, valued at approximately $824,000.

Other hedge funds have also made changes to their positions in the company. Ostrum Asset Management grew its stake in EastGroup Properties by 54.3% in the fourth quarter. Ostrum Asset Management now owns 12,260 shares of the real estate investment trust's stock valued at $1,968,000 after purchasing an additional 4,315 shares in the last quarter. Curi RMB Capital LLC grew its stake in shares of EastGroup Properties by 6.0% in the 4th quarter. Curi RMB Capital LLC now owns 136,373 shares of the real estate investment trust's stock valued at $21,886,000 after buying an additional 7,711 shares in the last quarter. First Trust Advisors LP increased its holdings in EastGroup Properties by 3.1% in the fourth quarter. First Trust Advisors LP now owns 23,541 shares of the real estate investment trust's stock worth $3,778,000 after buying an additional 710 shares during the last quarter. GeoWealth Management LLC raised its position in EastGroup Properties by 67.1% during the fourth quarter. GeoWealth Management LLC now owns 867 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 348 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in EastGroup Properties by 4.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 100,247 shares of the real estate investment trust's stock valued at $16,090,000 after acquiring an additional 4,152 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on EGP shares. Morgan Stanley lowered their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Piper Sandler reduced their target price on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Evercore ISI increased their price target on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a report on Thursday. Truist Financial upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a research note on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $187.81.

EastGroup Properties Stock Up 0.7 %

EGP stock traded up $1.15 during mid-day trading on Monday, reaching $164.12. The company had a trading volume of 301,050 shares, compared to its average volume of 367,453. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 3.35 and a beta of 0.94. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61. The stock has a 50 day simple moving average of $171.05 and a two-hundred day simple moving average of $170.59. 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 posted its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.01. The firm had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The company's quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.98 earnings per share. As a group, equities analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Monday, March 31st. EastGroup Properties's payout ratio is currently 122.54%.

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.