Barclays PLC Has $9.88 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

Barclays PLC raised its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,581 shares of the real estate investment trust's stock after purchasing an additional 29,521 shares during the quarter. Barclays PLC owned about 0.12% of EastGroup Properties worth $9,883,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in EastGroup Properties by 337.0% during the 3rd quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock valued at $8,728,000 after purchasing an additional 37,863 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of EastGroup Properties by 20.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock worth $261,000 after acquiring an additional 275 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of EastGroup Properties by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust's stock worth $72,610,000 after acquiring an additional 23,626 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of EastGroup Properties during the 4th quarter worth $1,871,000. Finally, Nordea Investment Management AB boosted its stake in shares of EastGroup Properties by 6.1% during the 4th quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock worth $11,667,000 after acquiring an additional 4,176 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Up 0.6 %

Shares of EastGroup Properties stock traded up $0.95 during trading on Monday, hitting $163.92. 481,243 shares of the stock traded hands, compared to its average volume of 367,920. The stock has a market cap of $8.57 billion, a P/E ratio of 35.25, a PEG ratio of 3.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61. The company has a fifty day moving average price of $170.72 and a two-hundred day moving average price of $170.49.

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 (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.01. The business had revenue of $174.45 million during the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The firm's revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.98 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $1.40 per share. The ex-dividend date was Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.42%. EastGroup Properties's dividend payout ratio is 122.54%.

Analysts Set New Price Targets

EGP has been the subject of several research reports. Piper Sandler reduced their price objective 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. Robert W. Baird raised their price objective on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Truist Financial raised EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a research note on Thursday, April 10th. Raymond James set a $190.00 price objective on EastGroup Properties and gave the stock a "strong-buy" rating in a research note on Monday, April 14th. Finally, StockNews.com upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday. Nine 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 MarketBeat.com, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus target price of $187.81.

About EastGroup Properties

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.