LDR Capital Management LLC Buys New Position in EastGroup Properties, Inc. $EGP

LDR Capital Management LLC bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,026 shares of the real estate investment trust’s stock, valued at approximately $539,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Azzad Asset Management Inc. ADV boosted its stake in EastGroup Properties by 2.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 2,423 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 62 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in EastGroup Properties during the 4th quarter valued at approximately $879,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in EastGroup Properties during the 4th quarter valued at approximately $408,000. Centennial Wealth Advisory LLC bought a new stake in EastGroup Properties during the 4th quarter valued at approximately $200,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in EastGroup Properties by 7.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,494 shares of the real estate investment trust’s stock valued at $801,000 after purchasing an additional 328 shares during the period. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.1%

Shares of EGP opened at $192.91 on Friday. EastGroup Properties, Inc. has a 1 year low of $149.15 and a 1 year high of $197.95. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47. The stock has a 50 day simple moving average of $188.91 and a 200-day simple moving average of $181.91. The stock has a market cap of $10.29 billion, a PE ratio of 39.61, a PEG ratio of 3.15 and a beta of 1.09.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.2%. EastGroup Properties’s dividend payout ratio is presently 127.31%.

Analyst Ratings Changes

A number of analysts have commented on EGP shares. Morgan Stanley set a $205.00 price objective on EastGroup Properties in a research report on Friday, January 16th. Cantor Fitzgerald raised their price objective on EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of EastGroup Properties in a research report on Friday, March 27th. Royal Bank Of Canada raised their price objective on EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 18th. Finally, Evercore set a $188.00 price objective on EastGroup Properties in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.18.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.