FORA Capital LLC Acquires 5,242 Shares of EastGroup Properties, Inc. (NYSE:EGP)

FORA Capital LLC lifted its stake in EastGroup Properties, Inc. (NYSE:EGP) by 180.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,148 shares of the real estate investment trust’s stock after buying an additional 5,242 shares during the period. FORA Capital LLC’s holdings in EastGroup Properties were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in EGP. GAMMA Investing LLC bought a new stake in shares of EastGroup Properties during the 4th quarter valued at $31,000. Venturi Wealth Management LLC lifted its position in EastGroup Properties by 51.6% during the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 66 shares during the period. ZRC Wealth Management LLC bought a new position in EastGroup Properties in the 4th quarter valued at about $37,000. Mather Group LLC. bought a new position in EastGroup Properties in the 1st quarter valued at about $42,000. Finally, Tucker Asset Management LLC acquired a new position in shares of EastGroup Properties in the 3rd quarter valued at approximately $44,000. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Trading Down 0.9 %

EastGroup Properties stock traded down $1.60 during mid-day trading on Tuesday, hitting $172.85. 56,065 shares of the stock were exchanged, compared to its average volume of 282,120. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 2.70 and a beta of 0.98. EastGroup Properties, Inc. has a 12 month low of $154.75 and a 12 month high of $188.85. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $165.19 and its two-hundred day simple moving average is $173.29.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, June 28th. EastGroup Properties’s dividend payout ratio is presently 110.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EGP. Piper Sandler decreased their price objective on shares of EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Mizuho decreased their price target on EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Robert W. Baird lowered their price target on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Evercore ISI decreased their target price on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a research report on Thursday, April 25th. Finally, Royal Bank of Canada lowered their target price on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research note on Monday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Hold” and an average price target of $182.41.

About EastGroup Properties

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.