EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,394 shares of the real estate investment trust’s stock after acquiring an additional 112 shares during the quarter. Captrust Financial Advisors’ holdings in EastGroup Properties were worth $1,347,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc increased its position 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 purchasing an additional 72 shares during the last quarter. Principal Securities Inc. increased its holdings 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 worth $86,000 after buying an additional 84 shares during the last quarter. waypoint wealth counsel boosted its holdings in EastGroup Properties by 1.9% in the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in 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 valued at $1,612,000 after acquiring an additional 100 shares during the last quarter. Finally, US Bancorp DE grew its position in EastGroup Properties by 1.4% during the fourth quarter. US Bancorp DE now owns 7,395 shares of the real estate investment trust’s stock valued at $1,187,000 after acquiring an additional 102 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Down 2.0%

EGP opened at $167.91 on Thursday. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The firm’s fifty day moving average price is $166.94 and its two-hundred day moving average price is $169.51. The company has a market capitalization of $8.82 billion, a P/E ratio of 36.11, a P/E/G ratio of 3.35 and a beta of 1.05.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $169.67 million. During the same period in the prior year, the firm posted $1.98 EPS. EastGroup Properties’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.34%. EastGroup Properties’s payout ratio is presently 122.54%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays cut their price target on shares of EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Piper Sandler cut their target price on shares of EastGroup Properties from $175.00 to $172.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Robert W. Baird decreased their price target on shares of EastGroup Properties from $194.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Truist Financial decreased their price target on shares of EastGroup Properties from $180.00 to $177.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Royal Bank of Canada cut their price objective on EastGroup Properties from $189.00 to $183.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.40.

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.