25,305 Shares of EastGroup Properties, Inc. $EGP Bought by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,305 shares of the real estate investment trust’s stock, valued at approximately $4,996,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its holdings in shares of EastGroup Properties by 4.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 96,265 shares of the real estate investment trust’s stock valued at $19,008,000 after buying an additional 3,912 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of EastGroup Properties by 5.1% in the 3rd quarter. Park Avenue Securities LLC now owns 4,063 shares of the real estate investment trust’s stock valued at $802,000 after buying an additional 197 shares during the last quarter. Westover Capital Advisors LLC raised its stake in EastGroup Properties by 17.8% during the 3rd quarter. Westover Capital Advisors LLC now owns 8,853 shares of the real estate investment trust’s stock worth $1,748,000 after acquiring an additional 1,339 shares in the last quarter. Leo Wealth LLC acquired a new stake in EastGroup Properties during the 3rd quarter worth $251,000. Finally, Signaturefd LLC raised its stake in EastGroup Properties by 68.3% during the 3rd quarter. Signaturefd LLC now owns 1,851 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 751 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

EGP stock opened at $194.81 on Thursday. The company has a fifty day moving average price of $198.89 and a 200 day moving average price of $197.89. EastGroup Properties, Inc. has a 12 month low of $172.17 and a 12 month high of $226.71. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 4.17 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.97). EastGroup Properties had a return on equity of 8.90% and a net margin of 41.05%. The business had revenue of $199.44 million for the quarter, compared to analyst estimates of $197.51 million. During the same quarter in the prior year, the company earned $2.27 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts anticipate that EastGroup Properties, Inc. will post 9.62 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 3.6%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.55. The ex-dividend date was Wednesday, September 30th. EastGroup Properties’s payout ratio is currently 118.64%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of EastGroup Properties from $268.00 to $246.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Robert W. Baird set a $221.00 target price on EastGroup Properties in a research report on Friday, July 31st. KeyCorp lifted their target price on EastGroup Properties from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Evercore set a $199.00 target price on EastGroup Properties in a report on Friday, October 2nd. Finally, Barclays upped their target price on EastGroup Properties from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.24.

Insider Buying and Selling at EastGroup Properties

In other news, CFO Staci Tyler sold 1,600 shares of the stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $201.69, for a total transaction of $322,704.00. Following the completion of the sale, the chief financial officer owned 13,584 shares in the company, valued at approximately $2,739,756.96. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP) is a self-administered and self-managed real estate investment trust that owns, develops, acquires and operates industrial properties. The company primarily focuses on functional, flexible warehouse and distribution facilities designed to serve local and regional businesses, including light manufacturing, service and last-mile distribution users.

Founded in 1969 and headquartered in Jackson, Mississippi, EastGroup concentrates its portfolio in major Sun Belt markets.