Price T Rowe Associates Inc. MD Has $156.55 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Price T Rowe Associates Inc. MD decreased its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 975,470 shares of the real estate investment trust's stock after selling 20,210 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.97% of EastGroup Properties worth $156,554,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EGP. Cohen & Steers Inc. increased its holdings in EastGroup Properties by 141.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock worth $458,347,000 after purchasing an additional 1,673,663 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of EastGroup Properties in the fourth quarter valued at about $116,756,000. Norges Bank acquired a new position in shares of EastGroup Properties in the fourth quarter valued at about $100,579,000. Daiwa Securities Group Inc. raised its stake in EastGroup Properties by 210.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust's stock worth $113,584,000 after purchasing an additional 479,873 shares in the last quarter. Finally, Boston Partners boosted its holdings in EastGroup Properties by 34.1% in the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock valued at $169,533,000 after purchasing an additional 268,359 shares during the period. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Trading Up 2.0 %

Shares of NYSE EGP traded up $3.36 during trading on Friday, reaching $167.44. The company had a trading volume of 110,038 shares, compared to its average volume of 368,974. The company's fifty day moving average price is $169.74 and its 200-day moving average price is $170.30. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.61. The stock has a market cap of $8.79 billion, a P/E ratio of 36.01, a PEG ratio of 3.35 and a beta of 0.94. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46.

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 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $169.67 million. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The business's quarterly revenue was up 13.1% compared to the same quarter last year. As a group, research analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is 122.54%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EGP shares. Piper Sandler dropped their price target on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Raymond James set a $190.00 target price on EastGroup Properties and gave the stock a "strong-buy" rating in a report on Monday, April 14th. Royal Bank of Canada dropped their price target on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a research note on Tuesday. Robert W. Baird increased their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and boosted their target price for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average target price of $186.94.

About EastGroup Properties

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.