EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC grew its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 22.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 and other institutional investors have also recently made changes to their positions in EGP. Crowley Wealth Management Inc. purchased a new position in EastGroup Properties during the 4th quarter worth $29,000. Canton Hathaway LLC purchased a new stake in EastGroup Properties during the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in EastGroup Properties by 503.3% in the fourth 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 in the last quarter. Principal Securities Inc. increased its holdings in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 84 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after acquiring an additional 95 shares during the period. Hedge funds and other institutional investors own 92.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EGP shares. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price objective for the company. Piper Sandler cut their price target on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Evercore ISI increased their price objective on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Royal Bank of Canada dropped their target price on shares of EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Finally, Truist Financial reduced their price target on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.40.

EastGroup Properties Trading Up 0.8 %

EGP traded up $1.27 during midday trading on Friday, hitting $168.28. The company's stock had a trading volume of 48,255 shares, compared to its average volume of 369,251. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61. The firm has a 50-day moving average price of $168.20 and a two-hundred day moving average price of $169.76. The firm has a market cap of $8.84 billion, a P/E ratio of 36.19, a PEG ratio of 3.35 and a beta of 1.05. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced 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. The company had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. EastGroup Properties's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $1.98 EPS. On average, research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $1.40 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.33%. 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.