Osterweis Capital Management Inc. Buys 4,484 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Osterweis Capital Management Inc. increased its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 209,820 shares of the real estate investment trust's stock after buying an additional 4,484 shares during the quarter. EastGroup Properties makes up 1.6% of Osterweis Capital Management Inc.'s holdings, making the stock its 20th biggest position. Osterweis Capital Management Inc. owned about 0.42% of EastGroup Properties worth $33,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EGP. Farringdon Capital Ltd. acquired a new position in EastGroup Properties during the fourth quarter worth approximately $217,000. Ceredex Value Advisors LLC grew its position in shares of EastGroup Properties by 25.8% in the fourth quarter. Ceredex Value Advisors LLC now owns 194,350 shares of the real estate investment trust's stock valued at $31,191,000 after purchasing an additional 39,900 shares during the last quarter. United Capital Financial Advisors LLC boosted its stake in EastGroup Properties by 49.1% in the 4th quarter. United Capital Financial Advisors LLC now owns 2,371 shares of the real estate investment trust's stock valued at $381,000 after purchasing an additional 781 shares during the period. Mariner LLC lifted its holdings in shares of EastGroup Properties by 4.7% during the fourth quarter. Mariner LLC now owns 5,516 shares of the real estate investment trust's stock worth $885,000 after buying an additional 246 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its position in shares of EastGroup Properties by 141.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock valued at $458,347,000 after acquiring an additional 1,673,663 shares during the period. 92.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on EGP. Piper Sandler decreased their target price on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Evercore ISI reaffirmed an "in-line" rating and set a $185.00 price target (up previously from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. StockNews.com downgraded shares of EastGroup Properties from a "hold" rating to a "sell" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price objective for the company. Finally, Robert W. Baird increased their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, EastGroup Properties has an average rating of "Moderate Buy" and an average price target of $188.24.

EastGroup Properties Stock Up 2.1 %

Shares of EastGroup Properties stock traded up $3.34 during trading hours on Tuesday, reaching $159.25. The company's stock had a trading volume of 67,617 shares, compared to its average volume of 364,979. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The stock's fifty day simple moving average is $172.53 and its two-hundred day simple moving average is $171.04. The company has a market capitalization of $8.32 billion, a P/E ratio of 34.26, 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.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $1.40 per share. The ex-dividend date was Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.52%. EastGroup Properties's dividend payout ratio is currently 120.43%.

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.