DekaBank Deutsche Girozentrale buys 1,425 shares of EastGroup Properties, Inc. (NYSE:EGP)

DekaBank Deutsche Girozentrale grew its position in EastGroup Properties, Inc. (NYSE:EGP – Free Report) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,868 shares of the real estate investment trust’s stock after acquiring an additional 1,425 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.06% of EastGroup Properties worth $4,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have recently modified their holdings of the company. Gradient Investments LLC bought a new position in shares of EastGroup Properties in the second quarter valued at about $32,000. Quest Partners LLC boosted its holdings in shares of EastGroup Properties by 10,400.0% during the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 208 shares during the the period. Mather Group LLC. bought a new stake in shares of EastGroup Properties in the 1st quarter worth approximately $42,000. EverSource Wealth Advisors LLC boosted its holdings in shares of EastGroup Properties by 1,938.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 252 shares. of shares in the respective period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of EastGroup Properties during the fourth quarter valued at approximately $55,000. Institutional investors own 92.14% of the company’s shares.

EastGroup Properties price performance

Shares of EGP stock opened at $190.16 on Wednesday. The company has a 50-day simple moving average of $184.64 and a 200-day simple moving average of $174.45. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 41.25, a P/E/G ratio of 2.74 and a beta of 0.99. EastGroup Properties, Inc. has a 1 year low of $154.75 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.21, and a quick ratio of 0.21.

EastGroup Properties (NYSE:EGP – Get Free Report ) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.91). EastGroup Properties had a net margin of 37.16% and a return on equity of 8.69%. The business had revenue of $159.09 million during the quarter, compared to analyst estimates of $156.70 million. In the same quarter last year, the company posted earnings of $1.89 per share. The company’s revenue was up 13.7% compared to the same quarter last year. Research analysts anticipate that EastGroup Properties, Inc. will post 8.32 EPS for the current fiscal year.

EastGroup Properties increases dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $1.40 dividend. This is an increase on EastGroup Properties’ previous quarterly dividend of $1.27. This represents an annualized dividend of $5.60 and a yield of 2.94%. The ex-dividend date of this dividend is Monday, September 30. EastGroup Properties’ dividend payout ratio is 121.48%.

The Wall Street analyst weighs in

Several analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of EastGroup Properties from $172.00 to $186.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 30th. Barclays boosted their price objective on shares of EastGroup Properties from $175.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Mizuho upgraded shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and upped their price target for the company from $175.00 to $200.00 in a research report on Thursday, September 5th . Truist Financial upped their target price on shares of EastGroup Properties from $176.00 to $190.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, Wedbush boosted their target price on shares of EastGroup Properties from $208.00 to $209.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. EastGroup Properties currently has an average rating of “Moderate Buy” and a consensus price target of $192.00, according to MarketBeat .

Check out the latest stock report of EastGroup properties

EastGroup Properties company profile

(Free Report)

EastGroup Properties, Inc (NYSE: EGP), a member of the S&P Mid-Cap 400 and Russell 1000 indices, is a self-managed real estate investment trust focused on developing, acquiring and operating industrial properties in major Sunbelt markets. United States, with an emphasis on the states of Florida, Texas, Arizona, California, and North Carolina.

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