5,377 Shares in EastGroup Properties, Inc. $EGP Bought by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,377 shares of the real estate investment trust’s stock, valued at approximately $910,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 99 shares during the period. State of Wyoming bought a new position in EastGroup Properties during the 2nd quarter valued at about $27,000. MAI Capital Management raised its position in EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 82 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in EastGroup Properties in the third quarter worth about $34,000. Finally, Mather Group LLC. bought a new stake in EastGroup Properties in the third quarter worth about $35,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

EGP opened at $188.20 on Friday. 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 company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 38.64, a PEG ratio of 3.13 and a beta of 1.10. The business’s fifty day simple moving average is $186.35 and its 200-day simple moving average is $178.48. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $197.95.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.3%. EastGroup Properties’s dividend payout ratio (DPR) is presently 127.31%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EGP shares. Truist Financial boosted their target price on EastGroup Properties from $203.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada raised their price target on EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 18th. Mizuho restated a “neutral” rating and set a $172.00 price objective (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. Evercore set a $188.00 price objective on EastGroup Properties in a research report on Friday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lowered EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price on the stock. in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target of $200.18.

EastGroup Properties 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.