Corient Private Wealth LLC Boosts Stake in EastGroup Properties, Inc. (NYSE:EGP)

Corient Private Wealth LLC increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,400 shares of the real estate investment trust’s stock after buying an additional 314 shares during the quarter. Corient Private Wealth LLC’s holdings in EastGroup Properties were worth $1,990,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of EastGroup Properties by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 72 shares during the last quarter. Principal Securities Inc. raised its stake in EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 84 shares during the last quarter. Versant Capital Management Inc raised its stake in EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 95 shares during the last quarter. waypoint wealth counsel grew its stake in shares of EastGroup Properties by 1.9% in the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after purchasing an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of EastGroup Properties by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust’s stock valued at $1,612,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Up 1.9 %

Shares of EGP stock opened at $176.32 on Tuesday. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $175.79 and a 200-day simple moving average of $174.69. The stock has a market cap of $9.17 billion, a P/E ratio of 37.92, a P/E/G ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate 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, analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s payout ratio is currently 120.43%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on EGP shares. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Jefferies Financial Group upgraded shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their target price for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Raymond James upgraded shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Truist Financial raised their price objective on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Finally, Morgan Stanley dropped their target price on 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. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.47.

EastGroup Properties Company Profile

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.