Mitsubishi UFJ Asset Management Co. Ltd. Acquires 1,360 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,651 shares of the real estate investment trust’s stock after acquiring an additional 1,360 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of EastGroup Properties worth $5,255,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. First American Trust FSB bought a new stake in EastGroup Properties in the fourth quarter valued at $282,000. EntryPoint Capital LLC grew its holdings in shares of EastGroup Properties by 111.3% in the 4th quarter. EntryPoint Capital LLC now owns 2,912 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 1,534 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of EastGroup Properties during the 4th quarter worth about $29,000. Vanguard Group Inc. lifted its holdings in EastGroup Properties by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust’s stock valued at $1,121,978,000 after purchasing an additional 72,199 shares during the last quarter. Finally, LPL Financial LLC boosted its position in EastGroup Properties by 15.8% in the fourth quarter. LPL Financial LLC now owns 13,294 shares of the real estate investment trust’s stock valued at $2,134,000 after buying an additional 1,810 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Trading Down 0.1 %

NYSE EGP opened at $176.06 on Wednesday. EastGroup Properties, Inc. has a 12 month low of $155.10 and a 12 month high of $192.61. The stock has a 50-day simple moving average of $177.34 and a 200 day simple moving average of $174.31. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.16 billion, a PE ratio of 37.86, 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 analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EGP. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Truist Financial lifted their price objective on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday. Finally, Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.