DigitalBridge Group Inc. raised its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,813 shares of the real estate investment trust's stock after buying an additional 4,350 shares during the quarter. DigitalBridge Group Inc. owned about 0.11% of EastGroup Properties worth $8,636,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of EGP. Crowley Wealth Management Inc. acquired a new stake in shares of EastGroup Properties during the 4th quarter worth approximately $29,000. Canton Hathaway LLC bought a new position in EastGroup Properties in the 4th quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock worth $58,000 after buying an additional 302 shares in the last quarter. Principal Securities Inc. grew its stake in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 84 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in EastGroup Properties in the 4th quarter valued at $100,000. 92.14% of the stock is owned by institutional investors.
EastGroup Properties Stock Performance
NYSE EGP traded up $0.98 on Friday, reaching $167.99. The stock had a trading volume of 231,352 shares, compared to its average volume of 370,232. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $8.82 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. The firm has a fifty day moving average of $167.87 and a two-hundred day moving average of $169.68.
EastGroup Properties (NYSE:EGP - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The firm's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 earnings per share. On average, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.
EastGroup Properties Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 annualized dividend and a dividend yield of 3.33%. EastGroup Properties's dividend payout ratio is 122.54%.
Analyst Upgrades and Downgrades
EGP has been the subject of several recent research reports. Piper Sandler dropped their target price on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Raymond James reaffirmed a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday. Barclays reduced their price objective on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. 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 report on Monday, May 5th. Finally, Evercore ISI boosted their price target on EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Eight 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's stock. Based on data from MarketBeat, EastGroup Properties has an average rating of "Moderate Buy" and a consensus price target of $187.40.
Get Our Latest Report on EastGroup Properties
About EastGroup Properties
(
Free Report)
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.
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