Natixis Advisors LLC Has $10.44 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

Natixis Advisors LLC lifted its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 23.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,050 shares of the real estate investment trust’s stock after purchasing an additional 12,371 shares during the period. Natixis Advisors LLC’s holdings in EastGroup Properties were worth $10,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EGP. Thrivent Financial for Lutherans boosted its position in shares of EastGroup Properties by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 153,736 shares of the real estate investment trust’s stock valued at $28,721,000 after acquiring an additional 2,633 shares during the period. Quest Partners LLC raised its position in shares of EastGroup Properties by 3,258.6% in the third quarter. Quest Partners LLC now owns 7,053 shares of the real estate investment trust’s stock valued at $1,318,000 after buying an additional 6,843 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of EastGroup Properties by 0.8% in the third quarter. Pathstone Holdings LLC now owns 67,602 shares of the real estate investment trust’s stock valued at $12,632,000 after buying an additional 542 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in EastGroup Properties during the third quarter worth approximately $3,462,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in EastGroup Properties during the 3rd quarter worth $206,000. 92.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley reduced their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Monday, December 30th. Truist Financial raised their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a report on Friday, February 14th. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Evercore ISI reissued an “in-line” rating and issued a $185.00 price objective (up from $181.00) on shares of EastGroup Properties in a research note on Monday. Finally, Jefferies Financial Group upgraded EastGroup Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.47.

EastGroup Properties Stock Down 0.4 %

Shares of NYSE EGP opened at $178.90 on Thursday. 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 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $9.31 billion, a PE ratio of 38.47, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The company has a 50 day simple moving average of $174.73 and a 200 day simple moving average of $174.99.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping 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 forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.13%. EastGroup Properties’s dividend payout ratio (DPR) is 120.43%.

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.