Curi RMB Capital LLC Has $21.89 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Curi RMB Capital LLC grew its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,373 shares of the real estate investment trust's stock after buying an additional 7,711 shares during the period. Curi RMB Capital LLC owned 0.28% of EastGroup Properties worth $21,886,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EGP. Franklin Resources Inc. raised its stake in EastGroup Properties by 337.0% in the third 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 increased its stake in shares of EastGroup Properties by 20.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock valued at $261,000 after purchasing an additional 275 shares during the last quarter. Bank of New York Mellon Corp raised its stake in EastGroup Properties by 5.5% during the fourth 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 position in EastGroup Properties in the 4th quarter valued at approximately $1,871,000. Finally, Nordea Investment Management AB lifted its stake in shares of EastGroup Properties by 6.1% in the 4th quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock valued at $11,667,000 after acquiring an additional 4,176 shares during the last quarter. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Performance

Shares of EGP stock traded up $2.40 during trading hours on Thursday, hitting $162.87. The stock had a trading volume of 487,350 shares, compared to its average volume of 367,225. The stock's 50 day moving average is $171.71 and its 200 day moving average is $170.88. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61. The firm has a market capitalization of $8.51 billion, a PE ratio of 35.03, a PEG ratio of 3.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The company had revenue of $174.45 million during the quarter, compared to the consensus estimate of $169.67 million. As a group, research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Monday, March 31st. EastGroup Properties's payout ratio is currently 120.43%.

Analyst Ratings Changes

EGP has been the subject of several recent research reports. StockNews.com cut EastGroup Properties from a "hold" rating to a "sell" rating in a research note on Saturday, April 19th. Robert W. Baird raised their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Morgan Stanley lowered their target price on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 price target on the stock. Finally, Piper Sandler cut their price objective on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.