Aptus Capital Advisors LLC Boosts Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Aptus Capital Advisors LLC grew its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,532 shares of the real estate investment trust's stock after buying an additional 7,030 shares during the period. Aptus Capital Advisors LLC owned 0.08% of EastGroup Properties worth $6,184,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Cohen & Steers Inc. lifted its holdings in shares of EastGroup Properties by 141.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock valued at $458,347,000 after purchasing an additional 1,673,663 shares during the last quarter. Raymond James Financial Inc. acquired a new position in EastGroup Properties during the fourth quarter worth approximately $116,756,000. Norges Bank purchased a new stake in EastGroup Properties in the fourth quarter valued at approximately $100,579,000. Daiwa Securities Group Inc. lifted its stake in EastGroup Properties by 210.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust's stock valued at $113,584,000 after buying an additional 479,873 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of EastGroup Properties by 91.3% during the fourth quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust's stock worth $130,189,000 after acquiring an additional 387,134 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on EGP shares. Robert W. Baird upped their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Truist Financial decreased their target price on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research note on Monday. Barclays lowered their price target on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a "buy" rating and a $180.00 price objective for the company. Finally, StockNews.com upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. 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. According to data from MarketBeat, EastGroup Properties presently has an average rating of "Moderate Buy" and an average price target of $187.00.

EastGroup Properties Trading Down 1.0 %

Shares of NYSE:EGP traded down $1.61 during trading on Tuesday, reaching $165.21. The stock had a trading volume of 272,966 shares, compared to its average volume of 369,656. 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 market cap of $8.68 billion, a P/E ratio of 35.53, a PEG ratio of 3.35 and a beta of 1.05. The business has a fifty day moving average price of $168.91 and a 200-day moving average price of $169.88. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.01. The company had revenue of $174.45 million during the quarter, compared to the consensus estimate of $169.67 million. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. EastGroup Properties's revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.98 EPS. As a group, analysts anticipate 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. The ex-dividend date was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.39%. EastGroup Properties's dividend payout ratio (DPR) is 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.