EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC raised its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 15.6% in the third quarter, Holdings Channel.com reports. The fund owned 31,502 shares of the real estate investment trust’s stock after acquiring an additional 4,240 shares during the quarter. Aptus Capital Advisors LLC’s holdings in EastGroup Properties were worth $5,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Gradient Investments LLC acquired a new stake in EastGroup Properties during the second quarter worth $32,000. V Square Quantitative Management LLC boosted its holdings in EastGroup Properties by 47.7% in the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 61 shares during the period. Quest Partners LLC boosted its holdings in EastGroup Properties by 10,400.0% in the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 208 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in EastGroup Properties by 30.2% in the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 80 shares during the period. Finally, Headlands Technologies LLC purchased a new position in EastGroup Properties in the second quarter valued at $66,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $174.30 on Wednesday. The business’s 50 day simple moving average is $181.28 and its 200-day simple moving average is $176.33. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 2.61 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million for the quarter, compared to analysts’ expectations of $161.52 million. During the same period last year, the firm earned $1.95 EPS. EastGroup Properties’s revenue was up 11.2% compared to the same quarter last year. As a group, equities analysts forecast that EastGroup Properties, Inc. will post 8.35 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.40 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.60 dividend on an annualized basis and a yield of 3.21%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.27. EastGroup Properties’s dividend payout ratio is presently 115.70%.

Analyst Ratings Changes

A number of analysts have weighed in on EGP shares. KeyCorp raised their price target on EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. Truist Financial lifted their target price on EastGroup Properties from $176.00 to $190.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Barclays cut their target price on EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. Finally, StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and a consensus price target of $191.50.

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.