Vanguard Group Inc. Purchases 43,633 Shares of EastGroup Properties, Inc. $EGP

Vanguard Group Inc. lifted its position in EastGroup Properties, Inc. (NYSE:EGP) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,350,473 shares of the real estate investment trust’s stock after purchasing an additional 43,633 shares during the quarter. Vanguard Group Inc. owned about 13.78% of EastGroup Properties worth $1,244,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. True Wealth Design LLC boosted its stake in EastGroup Properties by 159.7% during the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 99 shares during the period. State of Wyoming bought a new stake in shares of EastGroup Properties during the 2nd quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of EastGroup Properties during the 3rd quarter valued at about $34,000. Mather Group LLC. purchased a new position in shares of EastGroup Properties during the third quarter worth about $35,000. Finally, Canton Hathaway LLC increased its position in shares of EastGroup Properties by 31.6% in the third quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

EGP stock opened at $192.81 on Friday. The firm has a market cap of $10.28 billion, a P/E ratio of 39.59, a P/E/G ratio of 2.78 and a beta of 1.11. The firm’s fifty day moving average is $184.04 and its 200 day moving average is $176.33. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $193.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $1.55 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.20 annualized dividend and a dividend yield of 3.2%. EastGroup Properties’s payout ratio is currently 127.31%.

Analyst Ratings Changes

EGP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price for the company. in a research report on Monday, January 5th. Truist Financial raised their price objective on shares of EastGroup Properties from $203.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore set a $188.00 price objective on shares of EastGroup Properties in a report on Friday, February 6th. Wall Street Zen cut EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Finally, Cantor Fitzgerald raised their price target on EastGroup Properties from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and an average price target of $200.18.

EastGroup Properties Company Profile

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.