6,267 Shares in EastGroup Properties, Inc. (NYSE:EGP) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC purchased a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,267 shares of the real estate investment trust’s stock, valued at approximately $1,006,000.

Other hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc increased its stake in EastGroup Properties by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 72 shares in the last quarter. Principal Securities Inc. boosted 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 worth $86,000 after buying an additional 84 shares during the period. Versant Capital Management Inc increased its position 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 worth $97,000 after acquiring an additional 95 shares in the last quarter. waypoint wealth counsel raised its holdings in shares of EastGroup Properties by 1.9% during the fourth 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 period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of EastGroup Properties by 1.0% in the 4th 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 acquiring an additional 100 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

Shares of NYSE EGP opened at $176.01 on Tuesday. The business’s 50-day simple moving average is $177.21 and its 200-day simple moving average is $174.39. 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 $155.10 and a 52 week high of $192.61. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 3.35 and a beta of 0.99.

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

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is 120.43%.

Analysts Set New Price Targets

EGP has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and boosted their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Morgan Stanley dropped their price target on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Truist Financial raised their price objective on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. StockNews.com downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday. Finally, KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.47.

EastGroup Properties Company 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.