GW&K Investment Management LLC Has $50.79 Million Stock Holdings in EastGroup Properties, Inc. $EGP

Key Points

• GW&K Investment Management LLC trimmed its stake in EastGroup Properties by 3.5% in Q3 and now holds 300,085 shares — about $50.79 million or roughly 0.56% of the company.
• Analyst sentiment is generally positive with a consensus rating of “Moderate Buy” and a $200.18 target; several firms have raised targets recently (Citigroup to $220, Piper Sandler to $230) while Deutsche Bank cut to a hold.
• Key fundamentals: market cap ~$10.38B and a P/E of ~39.98; EastGroup recently paid a quarterly $1.55 dividend (annualized $6.20, yield ~3.2%) but has a high payout ratio of 127.31%, suggesting potential sustainability concerns.

GW&K Investment Management LLC decreased its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 300,085 shares of the real estate investment trust's stock after selling 10,770 shares during the period. GW&K Investment Management LLC owned approximately 0.56% of EastGroup Properties worth $50,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EGP. True Wealth Design LLC boosted its stake in EastGroup Properties by 159.7% in the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 99 shares in the last quarter. State of Wyoming acquired a new position in EastGroup Properties during the second quarter worth about $27,000. MAI Capital Management lifted its holdings in shares of EastGroup Properties by 83.7% in the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 82 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of EastGroup Properties in the 3rd quarter valued at approximately $34,000. Finally, Mather Group LLC. bought a new stake in shares of EastGroup Properties during the 3rd quarter valued at approximately $35,000. 92.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EGP. Citigroup upped their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Truist Financial boosted their target price on shares of EastGroup Properties from $203.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a "buy" rating to a "hold" rating and set a $185.00 price target for the company. in a research note on Monday, January 5th. Piper Sandler raised their price objective on EastGroup Properties from $220.00 to $230.00 and gave the company an "overweight" rating in a report on Monday, February 9th. Finally, Morgan Stanley set a $205.00 price objective on EastGroup Properties in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold 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 target price of $200.18.

EastGroup Properties Price Performance

EGP stock opened at $194.70 on Thursday. The company has a market capitalization of $10.38 billion, a P/E ratio of 39.98, a PEG ratio of 3.18 and a beta of 1.10. The company has a fifty day moving average price of $185.99 and a 200-day moving average price of $178.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $197.95.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties's payout ratio is 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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