AE Wealth Management LLC Buys 17,147 Shares of EastGroup Properties, Inc. (NYSE:EGP)

AE Wealth Management LLC increased its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,624 shares of the real estate investment trust's stock after purchasing an additional 17,147 shares during the quarter. AE Wealth Management LLC owned approximately 0.25% of EastGroup Properties worth $22,834,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Citizens National Bank Trust Department bought a new stake in shares of EastGroup Properties in the first quarter worth $26,000. Mather Group LLC. lifted its holdings in EastGroup Properties by 74.2% in the first quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 155 shares during the period. Parallel Advisors LLC lifted its holdings in EastGroup Properties by 387.4% in the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 337 shares during the period. Bessemer Group Inc. lifted its holdings in EastGroup Properties by 31.9% in the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after buying an additional 108 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in EastGroup Properties by 36.3% in the first quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust's stock valued at $98,000 after buying an additional 148 shares during the period. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock traded down $1.66 on Friday, reaching $164.56. 462,187 shares of the company traded hands, compared to its average volume of 433,884. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.21. The company has a 50 day moving average of $168.78 and a 200 day moving average of $169.55. The firm has a market capitalization of $8.64 billion, a PE ratio of 35.54, a PEG ratio of 3.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.12.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company had revenue of $177.29 million for the quarter, compared to analysts' expectations of $175.80 million. During the same period in the prior year, the company posted $2.05 EPS. EastGroup Properties's revenue was up 11.4% compared to the same quarter last year. Equities analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Monday, June 30th. EastGroup Properties's dividend payout ratio is currently 120.95%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Wells Fargo & Company set a $215.00 target price on shares of EastGroup Properties and gave the company an "overweight" rating in a report on Sunday, July 13th. Robert W. Baird dropped their price objective on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Piper Sandler dropped their price objective on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Seven 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $190.00.

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.