Russell Investments Group Ltd. Acquires 17,128 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Russell Investments Group Ltd. grew its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,083 shares of the real estate investment trust's stock after purchasing an additional 17,128 shares during the quarter. Russell Investments Group Ltd. owned about 0.75% of EastGroup Properties worth $63,763,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its position in shares of EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in EastGroup Properties by 0.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,087 shares of the real estate investment trust's stock valued at $1,680,000 after acquiring an additional 67 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in shares of EastGroup Properties by 18.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust's stock valued at $78,000 after acquiring an additional 72 shares during the period. UniSuper Management Pty Ltd grew its holdings in shares of EastGroup Properties by 0.8% during the 3rd quarter. UniSuper Management Pty Ltd now owns 12,500 shares of the real estate investment trust's stock worth $2,082,000 after purchasing an additional 100 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of EastGroup Properties by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 19,264 shares of the real estate investment trust's stock worth $3,208,000 after purchasing an additional 100 shares during the period. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Trading Up 1.2 %

EGP traded up $1.90 during trading on Monday, reaching $157.82. 223,267 shares of the company's stock were exchanged, compared to its average volume of 289,165. The firm has a fifty day moving average price of $174.31 and a two-hundred day moving average price of $175.03. The stock has a market capitalization of $7.60 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 2.47 and a beta of 0.93. EastGroup Properties, Inc. has a one year low of $154.75 and a one year high of $188.85. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $1.27 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 annualized dividend and a dividend yield of 3.22%. EastGroup Properties's dividend payout ratio is 110.20%.

Insider Activity at EastGroup Properties

In other news, CFO Brent Wood sold 2,500 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on EGP. Piper Sandler decreased their target price on shares of EastGroup Properties from $215.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday. BMO Capital Markets started coverage on EastGroup Properties in a report on Monday, April 22nd. They set an "outperform" rating and a $190.00 price target for the company. Royal Bank of Canada upped their price objective 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 lifted their target price on EastGroup Properties from $188.00 to $198.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. Finally, Evercore ISI dropped their target price on shares of EastGroup Properties from $190.00 to $178.00 and set an "in-line" rating for the company in a report on Thursday. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, EastGroup Properties currently has a consensus rating of "Hold" and a consensus target price of $187.60.

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.