Los Angeles Capital Management LLC Has $5.68 Million Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Los Angeles Capital Management LLC lowered its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,225 shares of the real estate investment trust's stock after selling 5,520 shares during the period. Los Angeles Capital Management LLC owned approximately 0.06% of EastGroup Properties worth $5,676,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. OneAscent Financial Services LLC raised its stake in EastGroup Properties by 76.8% during the 1st quarter. OneAscent Financial Services LLC now owns 4,298 shares of the real estate investment trust's stock valued at $760,000 after purchasing an additional 1,867 shares during the period. Victory Capital Management Inc. grew its holdings in shares of EastGroup Properties by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 9,421 shares of the real estate investment trust's stock valued at $1,660,000 after acquiring an additional 149 shares in the last quarter. Securian Asset Management Inc. grew its holdings in shares of EastGroup Properties by 5.7% during the 1st quarter. Securian Asset Management Inc. now owns 3,945 shares of the real estate investment trust's stock valued at $695,000 after acquiring an additional 212 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of EastGroup Properties by 6.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the real estate investment trust's stock valued at $2,572,000 after acquiring an additional 900 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of EastGroup Properties by 1.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 38,073 shares of the real estate investment trust's stock valued at $6,707,000 after acquiring an additional 433 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EGP. Robert W. Baird lowered their price target 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. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Truist Financial lowered their price target on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Finally, Wells Fargo & Company set a $215.00 price target on EastGroup Properties and gave the stock an "overweight" rating in a research report on Sunday, July 13th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $190.00.

EastGroup Properties Stock Performance

Shares of NYSE:EGP traded down $1.10 during midday trading on Friday, hitting $165.12. The company's stock had a trading volume of 128,327 shares, compared to its average volume of 434,552. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 3.75 and a beta of 1.01. The stock's 50 day simple moving average is $169.04 and its 200 day simple moving average is $169.46. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.12 and a current ratio of 0.12.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.01. The company had revenue of $177.29 million for the quarter, compared to the consensus estimate of $175.80 million. EastGroup Properties had a return on equity of 7.44% and a net margin of 34.85%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $2.05 earnings per share. As a group, research analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, June 30th. EastGroup Properties's dividend payout ratio is currently 122.54%.

EastGroup Properties Company 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.