37,745 Shares in EastGroup Properties, Inc. (NYSE:EGP) Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 37,745 shares of the real estate investment trust’s stock, valued at approximately $6,058,000. Los Angeles Capital Management LLC owned approximately 0.08% of EastGroup Properties as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 302 shares during the last quarter. Principal Securities Inc. raised its holdings in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 84 shares in the last quarter. Versant Capital Management Inc boosted its stake in EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 95 shares during the last quarter. Quarry LP acquired a new position in EastGroup Properties during the 3rd quarter worth $102,000. Finally, Venturi Wealth Management LLC increased its position in shares of EastGroup Properties by 69.9% in the 4th 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 last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and increased their price target for the stock from $174.00 to $194.00 in a research report on Thursday, January 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Truist Financial upped their price target on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.65.

EastGroup Properties Stock Down 1.6 %

EGP stock opened at $178.93 on Thursday. The stock has a market cap of $9.31 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00. The firm’s 50-day simple moving average is $168.25 and its 200 day simple moving average is $175.20. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46.

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 net margin of 35.57% and a return on equity of 7.89%. As a group, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.13%. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

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.