EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by DigitalBridge Group Inc.

DigitalBridge Group Inc. lifted its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,813 shares of the real estate investment trust's stock after purchasing an additional 4,350 shares during the period. DigitalBridge Group Inc. owned about 0.10% of EastGroup Properties worth $8,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in EastGroup Properties by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock valued at $1,121,978,000 after purchasing an additional 72,199 shares during the period. Cohen & Steers Inc. grew its stake in EastGroup Properties by 141.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock valued at $458,347,000 after acquiring an additional 1,673,663 shares during the period. FMR LLC increased its holdings in EastGroup Properties by 1.4% in the 4th quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust's stock worth $253,496,000 after acquiring an additional 21,432 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in EastGroup Properties by 24.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock worth $226,888,000 after acquiring an additional 273,217 shares during the period. Finally, Boston Partners lifted its holdings in EastGroup Properties by 34.1% during the fourth quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock valued at $169,533,000 after purchasing an additional 268,359 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Trading Up 1.5%

Shares of EGP stock traded up $2.52 during trading on Thursday, hitting $170.98. 174,021 shares of the stock traded hands, compared to its average volume of 372,563. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61. The firm has a market capitalization of $8.98 billion, a P/E ratio of 36.76, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. The firm's fifty day moving average price is $164.84 and its 200-day moving average price is $169.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating the consensus estimate of $2.11 by $0.01. The business had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The company's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 EPS. As a group, research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, June 30th. EastGroup Properties's dividend payout ratio (DPR) is 122.54%.

Wall Street Analysts Forecast Growth

EGP has been the subject of a number of research reports. Robert W. Baird cut their target price on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Piper Sandler lowered their price objective on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Truist Financial reduced their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wall Street Zen upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Finally, Raymond James restated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Eight research 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $186.60.

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.