Duality Advisers LP bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP – Get Rating) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,206 shares of the real estate investment trust's stock, valued at approximately $3,294,000.
Other institutional investors have also made changes to their positions in the company. Confluence Wealth Services Inc. acquired a new position in shares of EastGroup Properties during the fourth quarter worth $29,000. HHM Wealth Advisors LLC bought a new stake in shares of EastGroup Properties in the first quarter worth $28,000. UMB Bank N A MO bought a new stake in shares of EastGroup Properties in the fourth quarter worth $32,000. USA Financial Portformulas Corp bought a new stake in shares of EastGroup Properties in the fourth quarter worth $38,000. Finally, DeDora Capital Inc. bought a new stake in shares of EastGroup Properties in the first quarter worth $46,000. 91.02% of the stock is owned by institutional investors and hedge funds.
Get EastGroup Properties alerts:Wall Street Analysts Forecast Growth
EGP has been the subject of a number of research analyst reports. Truist Financial dropped their price target on shares of EastGroup Properties from $200.00 to $175.00 and set a "hold" rating for the company in a research note on Tuesday, May 31st. Morgan Stanley dropped their price target on shares of EastGroup Properties from $215.00 to $195.00 and set an "equal weight" rating for the company in a research note on Monday, August 1st. Wells Fargo & Company dropped their price target on shares of EastGroup Properties from $184.00 to $170.00 and set an "equal weight" rating for the company in a research note on Monday, June 6th. Piper Sandler lowered their target price on shares of EastGroup Properties to $200.00 in a research note on Monday, July 4th. Finally, Mizuho lowered their target price on shares of EastGroup Properties from $215.00 to $180.00 and set a "na" rating for the company in a research note on Tuesday, May 17th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $191.90.
EastGroup Properties Stock Up 0.1 %
EastGroup Properties stock opened at $170.03 on Friday. The company has a 50-day simple moving average of $159.76 and a 200-day simple moving average of $179.63. The firm has a market capitalization of $7.41 billion, a P/E ratio of 33.08, a P/E/G ratio of 3.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.04 and a current ratio of 0.04. EastGroup Properties, Inc. has a one year low of $148.33 and a one year high of $229.84.EastGroup Properties Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $1.10 per share. The ex-dividend date was Wednesday, June 29th. This represents a $4.40 annualized dividend and a dividend yield of 2.59%. EastGroup Properties's dividend payout ratio is currently 85.60%.
EastGroup Properties Profile
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EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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.
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