Rothschild Investment LLC Purchases Shares of 2,465 EastGroup Properties, Inc. (NYSE:EGP)

Rothschild Investment LLC acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 2,465 shares of the real estate investment trust's stock, valued at approximately $434,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of EastGroup Properties by 5.5% during the 4th quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust's stock valued at $72,610,000 after purchasing an additional 23,626 shares during the period. BankPlus Trust Department bought a new stake in shares of EastGroup Properties during the 4th quarter valued at $1,871,000. Osterweis Capital Management Inc. raised its stake in shares of EastGroup Properties by 2.2% during the 4th quarter. Osterweis Capital Management Inc. now owns 209,820 shares of the real estate investment trust's stock valued at $33,674,000 after purchasing an additional 4,484 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of EastGroup Properties by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 650,612 shares of the real estate investment trust's stock valued at $104,417,000 after purchasing an additional 10,812 shares during the period. Finally, Norges Bank purchased a new position in EastGroup Properties during the fourth quarter worth about $100,579,000. 92.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on EGP. 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 research report on Monday, May 5th. Evercore ISI boosted their target price on EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Royal Bank of Canada reduced their target price on 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. Finally, Piper Sandler reduced their target price on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Seven investment 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $188.00.

EastGroup Properties Price Performance

Shares of EGP traded up $0.33 during midday trading on Thursday, reaching $168.72. The stock had a trading volume of 222,374 shares, compared to its average volume of 374,152. The company's 50-day moving average is $164.04 and its 200 day moving average is $169.01. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 3.35 and a beta of 1.02.

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

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, June 30th. EastGroup Properties's dividend payout ratio is presently 122.54%.

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.