Vaughan Nelson Investment Management L.P. Has $66.41 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

Vaughan Nelson Investment Management L.P. lifted its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 361,853 shares of the real estate investment trust's stock after purchasing an additional 7,724 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.78% of EastGroup Properties worth $66,414,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of EGP. American Century Companies Inc. purchased a new stake in shares of EastGroup Properties during the 1st quarter worth about $354,000. Group One Trading L.P. acquired a new position in EastGroup Properties during the 1st quarter worth approximately $41,000. Private Advisor Group LLC lifted its position in EastGroup Properties by 10.3% during the 1st quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust's stock worth $246,000 after acquiring an additional 113 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in EastGroup Properties during the 1st quarter worth approximately $12,520,000. Finally, Vanguard Group Inc. lifted its position in EastGroup Properties by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 6,172,033 shares of the real estate investment trust's stock worth $1,254,651,000 after acquiring an additional 133,344 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Royal Bank of Canada boosted their price target on EastGroup Properties from $180.00 to $190.00 and gave the stock a "sector perform" rating in a research report on Friday, February 16th. KeyCorp boosted their price target on EastGroup Properties from $188.00 to $198.00 and gave the stock an "overweight" rating in a research report on Monday, February 12th. Truist Financial boosted their price target on EastGroup Properties from $186.00 to $188.00 and gave the stock a "hold" rating in a research report on Tuesday, February 20th. Barclays initiated coverage on EastGroup Properties in a research report on Wednesday, March 27th. They issued an "equal weight" rating and a $181.00 target price on the stock. Finally, Mizuho reaffirmed a "neutral" rating and issued a $185.00 target price on shares of EastGroup Properties in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, EastGroup Properties has a consensus rating of "Hold" and an average price target of $188.23.

EastGroup Properties Stock Performance

Shares of EGP stock traded up $0.64 on Friday, hitting $174.23. 199,557 shares of the stock traded hands, compared to its average volume of 269,549. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $8.36 billion, a PE ratio of 39.51, a PEG ratio of 2.75 and a beta of 0.93. EastGroup Properties, Inc. has a 1-year low of $154.75 and a 1-year high of $188.85. The company's fifty day moving average is $179.74 and its 200 day moving average is $175.22.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Wednesday, March 27th. EastGroup Properties's dividend payout ratio is currently 115.19%.

Insider Activity at EastGroup Properties

In related news, CFO Brent Wood sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the sale, the chief financial officer now directly owns 102,617 shares of the company's stock, valued at approximately $18,752,230.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

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.