EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 49.1% during the 4th quarter, Holdings Channel reports. The firm owned 2,371 shares of the real estate investment trust’s stock after purchasing an additional 781 shares during the period. United Capital Financial Advisors LLC’s holdings in EastGroup Properties were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EGP. CIBC Asset Management Inc grew its holdings in EastGroup Properties by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 72 shares during the period. Principal Securities Inc. increased its holdings in shares of EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 84 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares in the last quarter. waypoint wealth counsel lifted its position in shares of EastGroup Properties by 1.9% during the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of EastGroup Properties by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust’s stock valued at $1,612,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EGP shares. Piper Sandler cut their price target on shares of EastGroup Properties from $175.00 to $172.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Evercore ISI restated an “in-line” rating and issued a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Raymond James set a $190.00 price target on EastGroup Properties and gave the company a “strong-buy” rating in a report on Monday, April 14th. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Finally, Truist Financial upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.24.

EastGroup Properties Stock Performance

EGP opened at $159.69 on Monday. The stock has a 50-day moving average of $172.99 and a 200-day moving average of $171.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61. The company has a market cap of $8.35 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. As a group, equities research analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 annualized dividend and a yield of 3.51%. EastGroup Properties’s payout ratio is 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.