Russell Investments Group Ltd. Acquires 9,039 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Russell Investments Group Ltd. increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,403 shares of the real estate investment trust's stock after acquiring an additional 9,039 shares during the period. Russell Investments Group Ltd. owned about 0.52% of EastGroup Properties worth $41,632,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EGP. CIBC Asset Management Inc raised its holdings in EastGroup Properties by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 72 shares in the last quarter. Principal Securities Inc. boosted its stake in EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 84 shares during the period. Versant Capital Management Inc grew its stake in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after acquiring an additional 95 shares in the last quarter. waypoint wealth counsel grew its position in shares of EastGroup Properties by 1.9% during the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock worth $867,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in EastGroup Properties by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust's stock worth $1,612,000 after acquiring an additional 100 shares during the period. 92.14% of the stock is currently owned by institutional investors.

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EastGroup Properties Stock Performance

EGP stock traded up $2.73 during midday trading on Friday, hitting $154.91. The company's stock had a trading volume of 528,656 shares, compared to its average volume of 365,296. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 3.35 and a beta of 0.94. The stock's 50-day moving average price is $174.69 and its 200 day moving average price is $172.11. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.89% and a net margin of 35.57%. On average, equities analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.61%. EastGroup Properties's dividend payout ratio (DPR) is 120.43%.

Analyst Upgrades and Downgrades

EGP has been the topic of a number of recent analyst reports. Evercore ISI reissued an "in-line" rating and issued a $185.00 price objective (up from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. Jefferies Financial Group raised EastGroup Properties from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price target on the stock. Truist Financial raised 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 report on Thursday. Finally, Morgan Stanley dropped their price target on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of "Moderate Buy" and an average target price of $189.00.

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.