UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in EastGroup Properties, Inc. (NYSE:EGP) by 355.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,594 shares of the real estate investment trust’s stock after purchasing an additional 305,555 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.79% of EastGroup Properties worth $73,158,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC lifted its stake in shares of EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 61 shares during the period. EverSource Wealth Advisors LLC raised its holdings in EastGroup Properties by 30.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of EastGroup Properties by 7.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 90 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in shares of EastGroup Properties by 4.9% during the third quarter. Azzad Asset Management Inc. ADV now owns 2,085 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 98 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of EastGroup Properties by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 31,093 shares of the real estate investment trust’s stock valued at $5,328,000 after purchasing an additional 103 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Trading Down 0.8 %

Shares of EGP opened at $170.75 on Tuesday. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61. The stock’s 50-day moving average is $177.48 and its two-hundred day moving average is $177.37. 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 stock has a market cap of $8.45 billion, a PE ratio of 35.28, a P/E/G ratio of 2.24 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.97). The company had revenue of $162.88 million for the quarter, compared to analysts’ expectations of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 earnings per share. Equities analysts forecast that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.28%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

Analyst Ratings Changes

Several research firms recently weighed in on EGP. Royal Bank of Canada reiterated a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. Evercore ISI increased their price objective on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Truist Financial lowered their target price on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Morgan Stanley increased their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Finally, Mizuho raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $175.00 to $200.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and a consensus price target of $191.21.

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.