CANADA LIFE ASSURANCE Co Acquires 4,152 Shares of EastGroup Properties, Inc. (NYSE:EGP)

CANADA LIFE ASSURANCE Co grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,247 shares of the real estate investment trust's stock after buying an additional 4,152 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.20% of EastGroup Properties worth $16,090,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EGP. Crowley Wealth Management Inc. bought a new position in EastGroup Properties during the 4th quarter worth $29,000. Canton Hathaway LLC acquired a new position in shares of EastGroup Properties in the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. boosted 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 acquiring an additional 302 shares during the last quarter. Principal Securities Inc. increased its position in EastGroup Properties by 18.5% during the 4th 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 period. Finally, Versant Capital Management Inc increased its position in 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 purchasing an additional 95 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

Shares of EGP stock traded up $0.26 during trading hours on Friday, hitting $163.18. 446,188 shares of the company were exchanged, compared to its average volume of 367,199. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.35 and a beta of 0.94. The firm has a fifty day simple moving average of $171.05 and a 200 day simple moving average of $170.68. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61.

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

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.43%. The ex-dividend date was Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is presently 122.54%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EGP shares. Piper Sandler decreased their price objective 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. StockNews.com downgraded EastGroup Properties from a "hold" rating to a "sell" rating in a report on Saturday, April 19th. 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 on the stock. Robert W. Baird raised their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded EastGroup Properties from a "hold" rating to a "buy" rating and lifted their target price for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of "Hold" and a consensus price target of $187.81.

EastGroup Properties 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.