Keybank National Association OH Buys 144 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Keybank National Association OH lifted its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 6.0% during the 4th quarter, Holdings Channel reports. The fund owned 2,564 shares of the real estate investment trust’s stock after acquiring an additional 144 shares during the quarter. Keybank National Association OH’s holdings in EastGroup Properties were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of EastGroup Properties by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 650,612 shares of the real estate investment trust’s stock worth $104,417,000 after acquiring an additional 10,812 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of EastGroup Properties by 1.7% in the 4th quarter. State of Michigan Retirement System now owns 11,727 shares of the real estate investment trust’s stock worth $1,882,000 after acquiring an additional 200 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in shares of EastGroup Properties by 15.0% in the 4th quarter. Bridges Investment Management Inc. now owns 4,303 shares of the real estate investment trust’s stock worth $691,000 after acquiring an additional 562 shares in the last quarter. Aew Capital Management L P boosted its holdings in shares of EastGroup Properties by 5.9% in the 4th quarter. Aew Capital Management L P now owns 70,739 shares of the real estate investment trust’s stock worth $11,353,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Metis Global Partners LLC boosted its holdings in shares of EastGroup Properties by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 5,578 shares of the real estate investment trust’s stock worth $895,000 after acquiring an additional 570 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EGP shares. Truist Financial boosted their target price on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a report on Friday, February 14th. Robert W. Baird upped their price objective on EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Raymond James raised EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective on the stock. Finally, Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and upped their price objective for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and a consensus price target of $191.65.

EastGroup Properties Price Performance

EGP opened at $181.03 on Tuesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a 12 month low of $155.10 and a 12 month high of $192.61. The company has a fifty day simple moving average of $171.86 and a 200 day simple moving average of $175.22. The stock has a market cap of $9.42 billion, a P/E ratio of 38.93, a P/E/G ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. On average, research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 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.