2,187 Shares in EastGroup Properties, Inc. (NYSE:EGP) Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 2,187 shares of the real estate investment trust's stock, valued at approximately $385,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Crowley Wealth Management Inc. acquired a new position in EastGroup Properties during the fourth quarter valued at approximately $29,000. Canton Hathaway LLC bought a new position in EastGroup Properties during the fourth quarter worth about $30,000. Parallel Advisors LLC lifted its holdings in EastGroup Properties by 387.4% during the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 337 shares in the last quarter. Principal Securities Inc. grew its stake in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 84 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of EastGroup Properties by 36.3% in the first quarter. GAMMA Investing LLC now owns 556 shares of the real estate investment trust's stock worth $98,000 after acquiring an additional 148 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EGP has been the topic of several recent analyst reports. Raymond James Financial reiterated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Evercore ISI lifted their price target on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Royal Bank Of Canada lowered their price objective on shares of EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Piper Sandler cut their price objective on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Robert W. Baird dropped their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $188.00.

EastGroup Properties Stock Up 0.2%

EGP traded up $0.35 on Thursday, hitting $170.91. 237,839 shares of the company were exchanged, compared to its average volume of 375,836. The stock's fifty day moving average is $166.24 and its 200-day moving average is $168.96. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $8.98 billion, a PE ratio of 37.40, a PEG ratio of 3.76 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $174.45 million for the quarter, compared to analysts' expectations of $169.67 million. EastGroup Properties had a return on equity of 7.41% and a net margin of 34.60%. The business's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 EPS. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $5.60 annualized dividend and a dividend yield of 3.28%. EastGroup Properties's dividend payout ratio is presently 122.54%.

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.