Ausbil Investment Management Ltd Has $1.26 Million Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Ausbil Investment Management Ltd boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 261.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,737 shares of the real estate investment trust's stock after purchasing an additional 4,874 shares during the quarter. Ausbil Investment Management Ltd's holdings in EastGroup Properties were worth $1,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of EGP. Gradient Investments LLC bought a new stake in EastGroup Properties during the 2nd quarter valued at approximately $32,000. V Square Quantitative Management LLC boosted its position in shares of EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 61 shares during the period. Quest Partners LLC grew its stake in shares of EastGroup Properties by 10,400.0% in the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 208 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in EastGroup Properties by 30.2% during the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 80 shares during the period. Finally, Headlands Technologies LLC acquired a new position in EastGroup Properties during the 2nd quarter valued at $66,000. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EGP. Mizuho upgraded shares of EastGroup Properties from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $175.00 to $200.00 in a report on Thursday, September 5th. Morgan Stanley raised their price objective on EastGroup Properties from $158.00 to $186.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 22nd. Wedbush upped their target price on EastGroup Properties from $208.00 to $209.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Truist Financial lifted their price target on shares of EastGroup Properties from $176.00 to $190.00 and gave the stock a "hold" rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on shares of EastGroup Properties from $172.00 to $186.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $191.73.

EastGroup Properties Trading Down 1.4 %

Shares of EastGroup Properties stock traded down $2.60 on Thursday, hitting $178.61. 605,116 shares of the company's stock traded hands, compared to its average volume of 296,622. The firm's 50-day moving average price is $184.27 and its two-hundred day moving average price is $175.41. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.21 and a quick ratio of 0.21. The stock has a market capitalization of $8.60 billion, a PE ratio of 39.30, a price-to-earnings-growth ratio of 2.65 and a beta of 0.99. EastGroup Properties, Inc. has a one year low of $155.23 and a one year high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.14 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($0.91). EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The firm had revenue of $159.09 million for the quarter, compared to the consensus estimate of $156.70 million. During the same period in the prior year, the business earned $1.89 earnings per share. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. On average, research analysts expect that EastGroup Properties, Inc. will post 8.32 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.14%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, September 30th. EastGroup Properties's dividend payout ratio (DPR) is presently 121.48%.

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.