EastGroup Properties, Inc. (NYSE:EGP) Stock Holdings Increased by Amalgamated Bank

Amalgamated Bank grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,439 shares of the real estate investment trust’s stock after buying an additional 320 shares during the period. Amalgamated Bank’s holdings in EastGroup Properties were worth $3,762,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Creative Planning raised its position in shares of EastGroup Properties by 4.8% during the 3rd quarter. Creative Planning now owns 2,555 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 117 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in EastGroup Properties by 35.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,869 shares of the real estate investment trust’s stock valued at $351,000 after purchasing an additional 488 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of EastGroup Properties by 7.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 90 shares during the period. abrdn plc lifted its position in shares of EastGroup Properties by 10.3% in the 3rd quarter. abrdn plc now owns 9,913 shares of the real estate investment trust’s stock worth $1,852,000 after buying an additional 924 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of EastGroup Properties by 6.4% in the 3rd quarter. New York State Common Retirement Fund now owns 203,806 shares of the real estate investment trust’s stock valued at $38,075,000 after buying an additional 12,234 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective on the stock. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Robert W. Baird boosted their price objective on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Wells Fargo & Company dropped their target price on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.65.

EastGroup Properties Stock Up 1.7 %

EGP stock opened at $183.10 on Friday. The firm’s 50-day moving average is $169.10 and its two-hundred day moving average is $175.26. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 39.38, a price-to-earnings-growth ratio of 3.35 and a beta of 1.00. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.06%. EastGroup Properties’s dividend payout ratio (DPR) is 120.43%.

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.