Asset Management One Co. Ltd. Has $14.99 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

Asset Management One Co. Ltd. raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 92,939 shares of the real estate investment trust’s stock after purchasing an additional 1,161 shares during the period. Asset Management One Co. Ltd. owned 0.19% of EastGroup Properties worth $14,993,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EGP. FMR LLC lifted its position in shares of EastGroup Properties by 67.9% in the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after purchasing an additional 629,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of EastGroup Properties by 355.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock worth $73,158,000 after purchasing an additional 305,555 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of EastGroup Properties by 50.9% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 517,770 shares of the real estate investment trust’s stock worth $83,098,000 after purchasing an additional 174,630 shares during the period. Vision Capital Corp acquired a new position in shares of EastGroup Properties during the 3rd quarter valued at $18,308,000. Finally, Janus Henderson Group PLC lifted its position in shares of EastGroup Properties by 18.5% during the 3rd quarter. Janus Henderson Group PLC now owns 387,972 shares of the real estate investment trust’s stock valued at $72,438,000 after acquiring an additional 60,624 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley dropped their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Truist Financial boosted their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company dropped their target price on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and boosted their target price for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Finally, StockNews.com upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, EastGroup Properties currently has a consensus rating of “Moderate Buy” and an average target price of $190.53.

EastGroup Properties Stock Performance

NYSE EGP opened at $179.64 on Friday. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 3.23 and a beta of 1.00. The company has a fifty day moving average price of $166.53 and a 200-day moving average price of $175.39.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 8.27%. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 annualized dividend and a yield of 3.12%. EastGroup Properties’s payout ratio is currently 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.