Natixis Buys New Shares in EastGroup Properties, Inc. (NYSE:EGP)

Natixis purchased a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,136 shares of the real estate investment trust's stock, valued at approximately $824,000.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in shares of EastGroup Properties by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 72 shares during the period. Principal Securities Inc. raised its position in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 84 shares in the last quarter. Versant Capital Management Inc lifted its stake in EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 95 shares during the last quarter. waypoint wealth counsel boosted its holdings in shares of EastGroup Properties by 1.9% in the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of EastGroup Properties by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust's stock valued at $1,612,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company's stock.

EastGroup Properties Trading Down 1.0 %

Shares of NYSE EGP traded down $1.60 during midday trading on Tuesday, reaching $162.41. The stock had a trading volume of 52,892 shares, compared to its average volume of 366,776. The company's 50 day moving average price is $170.72 and its 200 day moving average price is $170.49. 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, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its 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 business had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. During the same quarter in the previous year, the business earned $1.98 earnings per share. EastGroup Properties's revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $1.40 per share. The ex-dividend date was Monday, March 31st. This represents a $5.60 annualized dividend and a yield of 3.45%. EastGroup Properties's dividend payout ratio is currently 122.54%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EGP. Jefferies Financial Group upgraded EastGroup Properties from a "hold" rating to a "buy" rating and upped their price objective for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Piper Sandler dropped their target price 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. Raymond James set a $190.00 price target on shares of EastGroup Properties and gave the company a "strong-buy" rating in a report on Monday, April 14th. Truist Financial raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird boosted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $187.81.

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.