J.W. Cole Advisors Inc. Takes $754,000 Position in EastGroup Properties, Inc. (NYSE:EGP)

J.W. Cole Advisors Inc. acquired a new position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,036 shares of the real estate investment trust's stock, valued at approximately $754,000.

A number of other large investors also recently modified their holdings of EGP. CANADA LIFE ASSURANCE Co increased its holdings in shares of EastGroup Properties by 5.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 95,952 shares of the real estate investment trust's stock worth $17,242,000 after purchasing an additional 5,342 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of EastGroup Properties by 30.4% during the 1st quarter. Tidal Investments LLC now owns 18,316 shares of the real estate investment trust's stock worth $3,293,000 after acquiring an additional 4,271 shares in the last quarter. Atria Investments Inc grew its holdings in shares of EastGroup Properties by 48.9% in the first quarter. Atria Investments Inc now owns 11,389 shares of the real estate investment trust's stock valued at $2,047,000 after purchasing an additional 3,740 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of EastGroup Properties by 30.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 280,759 shares of the real estate investment trust's stock valued at $47,757,000 after acquiring an additional 64,984 shares during the period. Finally, Ausbil Investment Management Ltd lifted its holdings in shares of EastGroup Properties by 261.6% in the 3rd quarter. Ausbil Investment Management Ltd now owns 6,737 shares of the real estate investment trust's stock worth $1,259,000 after acquiring an additional 4,874 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

EGP has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, October 7th. KeyCorp raised their price target on EastGroup Properties from $178.00 to $198.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 30th. Morgan Stanley lifted their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an "equal weight" rating in a research note on Thursday, August 22nd. Royal Bank of Canada raised their price target on EastGroup Properties from $172.00 to $186.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 30th. Finally, Truist Financial boosted their price objective on EastGroup Properties from $176.00 to $190.00 and gave the company a "hold" rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $192.57.

EastGroup Properties Stock Performance

NYSE:EGP traded up $1.27 during mid-day trading on Wednesday, reaching $175.31. The stock had a trading volume of 28,506 shares, compared to its average volume of 297,314. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. The business has a 50 day simple moving average of $183.77 and a 200 day simple moving average of $175.48. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 2.70 and a beta of 0.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.21 and a current ratio of 0.21.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). The business had revenue of $162.88 million during the quarter, compared to analysts' expectations of $161.52 million. EastGroup Properties had a net margin of 37.16% and a return on equity of 8.69%. The firm's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.95 earnings per share. On average, analysts expect that EastGroup Properties, Inc. will post 8.32 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.40 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.60 dividend on an annualized basis and a yield of 3.19%. This is a positive change from EastGroup Properties's previous quarterly dividend of $1.27. EastGroup Properties's dividend payout ratio is presently 115.70%.

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.