EastGroup Properties, Inc. $EGP Shares Acquired by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 15.1% during the third quarter, Holdings Channel reports. The institutional investor owned 54,849 shares of the real estate investment trust’s stock after acquiring an additional 7,212 shares during the period. Aptus Capital Advisors LLC’s holdings in EastGroup Properties were worth $9,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of EastGroup Properties by 43.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after buying an additional 602,253 shares during the last quarter. Nordea Investment Management AB increased its holdings in EastGroup Properties by 13.4% during the 3rd quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock valued at $13,912,000 after acquiring an additional 9,776 shares in the last quarter. Citigroup Inc. raised its position in shares of EastGroup Properties by 38.3% during the 3rd quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock worth $10,403,000 after purchasing an additional 17,009 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in EastGroup Properties by 34.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock valued at $2,289,000 after buying an additional 3,480 shares in the last quarter. Finally, Channing Capital Management LLC raised its stake in EastGroup Properties by 14.5% in the 3rd quarter. Channing Capital Management LLC now owns 55,184 shares of the real estate investment trust’s stock valued at $9,340,000 after purchasing an additional 7,004 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $188.20 on Friday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. The firm has a 50-day simple moving average of $186.35 and a 200 day simple moving average of $178.48. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $197.95. The company has a market cap of $10.04 billion, a PE ratio of 38.64, a P/E/G ratio of 3.13 and a beta of 1.10.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $1.55 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $6.20 annualized dividend and a yield of 3.3%. EastGroup Properties’s dividend payout ratio is 127.31%.

Analysts Set New Price Targets

Several research firms have issued reports on EGP. Morgan Stanley set a $205.00 price target on shares of EastGroup Properties in a research note on Friday, January 16th. Wells Fargo & Company raised their target price on shares of EastGroup Properties from $187.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Truist Financial boosted their price target on EastGroup Properties from $203.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Piper Sandler increased their target price on EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Cantor Fitzgerald upped their price target on shares of EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.18.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.