Wellington Management Group LLP Has $40.73 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

Wellington Management Group LLP increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 44.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 253,796 shares of the real estate investment trust's stock after buying an additional 77,800 shares during the period. Wellington Management Group LLP owned 0.51% of EastGroup Properties worth $40,732,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of EGP. Crowley Wealth Management Inc. purchased a new position in EastGroup Properties in the 4th quarter valued at $29,000. Canton Hathaway LLC purchased a new position in shares of EastGroup Properties during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of EastGroup Properties by 503.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock valued at $58,000 after buying an additional 302 shares during the period. Principal Securities Inc. increased its stake in EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after buying an additional 84 shares during the period. Finally, Quarry LP purchased a new stake in EastGroup Properties during the 3rd quarter worth about $102,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 1.8 %

NYSE EGP traded up $2.73 on Friday, hitting $154.91. 528,656 shares of the stock traded hands, compared to its average volume of 364,645. 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 stock has a 50-day moving average of $174.69 and a 200 day moving average of $172.22. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61. The company has a market capitalization of $8.06 billion, a P/E ratio of 33.31, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94.

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EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is 120.43%.

Wall Street Analyst Weigh In

EGP has been the subject of a number of recent analyst reports. Evercore ISI reaffirmed an "in-line" rating and set a $185.00 price target (up from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Truist Financial raised EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 target price for the company in a research report on Thursday. Morgan Stanley cut their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, December 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They set a "buy" rating and a $180.00 price target for the company. Finally, StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Friday. 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 stock. According to data from MarketBeat, EastGroup Properties has a consensus rating of "Moderate Buy" and a consensus target price of $189.00.

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.