EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 15.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 105,560 shares of the real estate investment trust's stock after acquiring an additional 14,103 shares during the period. Sei Investments Co. owned 0.21% of EastGroup Properties worth $16,940,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EGP. CIBC Asset Management Inc increased its stake in EastGroup Properties by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock valued at $234,000 after purchasing an additional 72 shares during the last quarter. Principal Securities Inc. increased its stake in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 84 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 95 shares during the period. waypoint wealth counsel lifted its holdings 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 acquiring an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of EastGroup Properties by 1.0% in the fourth 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 last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

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Analyst Upgrades and Downgrades

EGP has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price on the stock. KeyCorp restated a "sector weight" rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Truist Financial lifted their price objective on EastGroup Properties from $168.00 to $180.00 and gave the company a "hold" rating in a research note on Friday, February 14th. Finally, Raymond James raised shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, EastGroup Properties presently has a consensus rating of "Moderate Buy" and an average price target of $190.47.

EastGroup Properties Stock Down 0.1 %

Shares of EastGroup Properties stock traded down $0.09 during trading hours on Tuesday, hitting $176.06. 465,636 shares of the company's stock traded hands, compared to its average volume of 346,310. EastGroup Properties, Inc. has a twelve month low of $155.10 and a twelve month high of $192.61. The company has a market cap of $9.16 billion, a PE ratio of 37.86, a PEG ratio of 3.35 and a beta of 0.99. 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 stock has a 50 day simple moving average of $177.34 and a 200-day simple moving average of $174.31.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

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

EastGroup Properties 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.