Uniplan Investment Counsel Inc. Has $32.34 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

Uniplan Investment Counsel Inc. cut its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,498 shares of the real estate investment trust's stock after selling 4,313 shares during the period. EastGroup Properties comprises approximately 3.0% of Uniplan Investment Counsel Inc.'s portfolio, making the stock its 6th biggest holding. Uniplan Investment Counsel Inc. owned about 0.41% of EastGroup Properties worth $32,338,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Tidal Investments LLC boosted its stake in EastGroup Properties by 23.2% in the third quarter. Tidal Investments LLC now owns 30,905 shares of the real estate investment trust's stock valued at $5,774,000 after acquiring an additional 5,811 shares during the last quarter. Franklin Resources Inc. raised its stake in EastGroup Properties by 337.0% in the 3rd quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock valued at $8,728,000 after acquiring an additional 37,863 shares during the period. Legacy Wealth Management LLC MS bought a new stake in EastGroup Properties in the 3rd quarter valued at about $296,000. Versant Capital Management Inc lifted its holdings in EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after purchasing an additional 95 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in EastGroup Properties by 6.1% during the fourth quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock worth $11,667,000 after purchasing an additional 4,176 shares during the period. 92.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on EGP shares. StockNews.com lowered shares of EastGroup Properties from a "hold" rating to a "sell" rating in a research report on Saturday, April 19th. Raymond James set a $190.00 target price on shares of EastGroup Properties and gave the company a "strong-buy" rating in a report on Monday, April 14th. Truist Financial raised EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a report on Thursday, April 10th. Robert W. Baird boosted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley dropped their price objective on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $187.81.

EastGroup Properties Price Performance

Shares of EastGroup Properties stock traded up $0.26 on Friday, hitting $163.18. 446,188 shares of the company traded hands, compared to its average volume of 367,199. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.53 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.35 and a beta of 0.94. The firm's 50-day simple moving average is $171.37 and its 200 day simple moving average is $170.78.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The business had revenue of $174.45 million for the quarter, compared to the consensus estimate of $169.67 million. Analysts expect 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. Shareholders of record on Monday, March 31st were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend 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.