DigitalBridge Group Inc. Has $8.64 Million Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

DigitalBridge Group Inc. increased its position in EastGroup Properties, Inc. (NYSE:EGP) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,813 shares of the real estate investment trust’s stock after purchasing an additional 4,350 shares during the quarter. DigitalBridge Group Inc. owned approximately 0.10% of EastGroup Properties worth $8,636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGP. Crowley Wealth Management Inc. bought a new stake in shares of EastGroup Properties in the 4th quarter valued at about $29,000. Canton Hathaway LLC acquired a new position in EastGroup Properties during the fourth quarter valued at approximately $30,000. Principal Securities Inc. grew its holdings in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 84 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in EastGroup Properties in the fourth quarter valued at approximately $100,000. Finally, Venturi Wealth Management LLC raised its holdings in EastGroup Properties by 69.9% in the fourth quarter. Venturi Wealth Management LLC now owns 700 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 288 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of EastGroup Properties from $199.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Truist Financial decreased their target price on EastGroup Properties from $180.00 to $177.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Robert W. Baird dropped their price target on EastGroup Properties from $194.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Raymond James reiterated a “strong-buy” rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Finally, Barclays decreased their price objective on EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.60.

EastGroup Properties Trading Down 0.8%

Shares of EastGroup Properties stock opened at $164.69 on Friday. The stock has a market capitalization of $8.65 billion, a P/E ratio of 35.42, a P/E/G ratio of 3.35 and a beta of 1.05. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61. 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 50-day simple moving average is $165.40 and its 200 day simple moving average is $169.33.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.01. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The firm had revenue of $174.45 million during the quarter, compared to analyst estimates of $169.67 million. During the same period last year, the company earned $1.98 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Monday, June 30th. EastGroup Properties’s dividend payout ratio (DPR) is currently 122.54%.

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.