SG Americas Securities LLC Boosts Position in EastGroup Properties, Inc. $EGP

SG Americas Securities LLC boosted its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 63.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,023 shares of the real estate investment trust’s stock after buying an additional 27,557 shares during the quarter. SG Americas Securities LLC owned approximately 0.13% of EastGroup Properties worth $12,652,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in EastGroup Properties by 159.7% in the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. State of Wyoming purchased a new position in shares of EastGroup Properties during the second quarter worth approximately $27,000. MAI Capital Management raised its stake in shares of EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 82 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of EastGroup Properties during the third quarter valued at approximately $34,000. Finally, Mather Group LLC. purchased a new stake in shares of EastGroup Properties in the third quarter valued at approximately $35,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Performance

EGP stock opened at $183.43 on Friday. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $197.95. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 2.98 and a beta of 1.10. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01. The firm has a 50-day simple moving average of $187.65 and a two-hundred day simple moving average of $180.63.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.4%. EastGroup Properties’s dividend payout ratio is presently 127.31%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 18th. Piper Sandler upped their target price on EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Evercore set a $188.00 target price on EastGroup Properties in a report on Friday, February 6th. Mizuho reissued a “neutral” rating and set a $172.00 price target (down from $180.00) on shares of EastGroup Properties in a research report on Thursday, December 4th. Finally, Morgan Stanley set a $205.00 price objective on EastGroup Properties in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.18.

EastGroup Properties Profile

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.