Mesirow Institutional Investment Management Inc. Acquires 4,863 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Mesirow Institutional Investment Management Inc. increased its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 21.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,447 shares of the real estate investment trust's stock after acquiring an additional 4,863 shares during the quarter. Mesirow Institutional Investment Management Inc. owned approximately 0.06% of EastGroup Properties worth $4,405,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of EastGroup Properties by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock worth $1,121,978,000 after purchasing an additional 72,199 shares during the period. Cohen & Steers Inc. grew its holdings in shares of EastGroup Properties by 141.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock worth $458,347,000 after buying an additional 1,673,663 shares in the last quarter. FMR LLC grew 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 valued at $253,496,000 after buying an additional 21,432 shares during the period. Boston Partners boosted its position in shares of EastGroup Properties by 34.1% in the fourth quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock worth $169,533,000 after acquiring an additional 268,359 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in EastGroup Properties by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 914,532 shares of the real estate investment trust's stock worth $146,816,000 after purchasing an additional 15,313 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Trading Up 0.2 %

NYSE:EGP traded up $0.27 during trading hours on Friday, hitting $163.19. The stock had a trading volume of 97,685 shares, compared to its average volume of 366,113. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.35 and a beta of 0.94. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.61. The business's 50 day moving average is $171.37 and its 200-day moving average is $170.78. The company has a debt-to-equity ratio of 0.46, 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, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.01. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The firm had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. Sell-side analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.43%. EastGroup Properties's payout ratio is presently 122.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EGP shares. Piper Sandler lowered their price target on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Morgan Stanley reduced their price target on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a report on Monday, December 30th. Raymond James set a $190.00 price objective on shares of EastGroup Properties and gave the company a "strong-buy" rating in a research note on Monday, April 14th. Evercore ISI raised their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a report on Thursday. Finally, Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and upped their price objective for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of "Hold" and an average price target of $187.81.

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.