AE Wealth Management LLC Increases Stock Position in EastGroup Properties, Inc. $EGP

Key Points

• AE Wealth Management LLC increased its stake in EastGroup Properties by 30.6% in Q4, buying an additional 46,653 shares to hold 198,900 shares worth $35.43 million (about 0.37% of the company).
• Analysts have a consensus rating of "Moderate Buy" on EGP with an average price target of $200.76; notable recent moves include Piper Sandler lifting its target to $230 while Deutsche Bank cut its rating to a "hold" at $185.
• Dividend and valuation: EastGroup pays a quarterly dividend of $1.55 (annualized $6.20) for a 3.2% yield but a high payout ratio (~127%), and the stock trades near its 12‑month high (~$196.73) with a P/E of 40.4.

AE Wealth Management LLC boosted its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 30.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 198,900 shares of the real estate investment trust's stock after acquiring an additional 46,653 shares during the period. AE Wealth Management LLC owned 0.37% of EastGroup Properties worth $35,432,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of EastGroup Properties by 159.7% during the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. State of Wyoming purchased a new position in EastGroup Properties during the 2nd quarter valued at $27,000. MAI Capital Management raised its holdings in EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of EastGroup Properties in the 3rd quarter worth about $34,000. Finally, Mather Group LLC. purchased a new stake in shares of EastGroup Properties in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EGP shares. Piper Sandler boosted their price target on shares of EastGroup Properties from $220.00 to $230.00 and gave the company an "overweight" rating in a research report on Monday, February 9th. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a "buy" rating to a "hold" rating and set a $185.00 price objective on the stock. in a research report on Monday, January 5th. Morgan Stanley increased their target price on EastGroup Properties from $205.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Cantor Fitzgerald raised their target price on EastGroup Properties from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus price target of $200.76.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $196.73 on Friday. EastGroup Properties, Inc. has a twelve month low of $152.53 and a twelve month high of $198.61. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.58 billion, a P/E ratio of 40.40, a PEG ratio of 3.18 and a beta of 1.09. The stock's 50 day moving average is $190.14 and its 200 day moving average is $182.87.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $1.55 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.20 annualized dividend and a dividend yield of 3.2%. EastGroup Properties's dividend payout ratio (DPR) is presently 127.31%.

EastGroup Properties Profile

EastGroup Properties, Inc NYSE: EGP is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company's portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.

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