BankPlus Trust Department Purchases Shares of 11,660 EastGroup Properties, Inc. (NYSE:EGP)

BankPlus Trust Department acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,660 shares of the real estate investment trust’s stock, valued at approximately $1,871,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of EastGroup Properties by 2.1% in the 3rd quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust’s stock worth $456,872,000 after acquiring an additional 49,268 shares during the last quarter. FMR LLC increased its stake in EastGroup Properties by 67.9% in the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after purchasing an additional 629,827 shares during the period. Geode Capital Management LLC lifted its position in EastGroup Properties by 1.2% in the third quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust’s stock valued at $168,032,000 after purchasing an additional 10,435 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of EastGroup Properties by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust’s stock worth $119,527,000 after purchasing an additional 22,328 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in EastGroup Properties by 50.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 517,770 shares of the real estate investment trust’s stock valued at $83,098,000 after buying an additional 174,630 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on EGP. Jefferies Financial Group upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their target price for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective on the stock. Truist Financial upped their target price on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a report on Friday, February 14th. Robert W. Baird boosted their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $191.65.

EastGroup Properties Trading Down 0.2 %

Shares of NYSE EGP opened at $179.35 on Monday. The company has a market cap of $9.33 billion, a PE ratio of 38.57, a P/E/G ratio of 3.35 and a beta of 1.00. 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 firm’s 50 day moving average price is $167.39 and its 200-day moving average price is $175.18. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.12%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is currently 120.43%.

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.