Runnymede Capital Advisors Inc. Invests $879,000 in EastGroup Properties, Inc. $EGP

Runnymede Capital Advisors Inc. purchased a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,933 shares of the real estate investment trust’s stock, valued at approximately $879,000.

A number of other large investors also recently bought and sold shares of EGP. True Wealth Design LLC boosted its position 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 purchasing an additional 99 shares in the last quarter. State of Wyoming purchased a new position in shares of EastGroup Properties during the 2nd quarter valued at approximately $27,000. MAI Capital Management lifted its stake in shares of EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 82 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in shares of EastGroup Properties in the 3rd quarter valued at $34,000. Finally, Mather Group LLC. purchased a new stake in EastGroup Properties during the third quarter worth $35,000. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

NYSE:EGP opened at $188.54 on Monday. 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 company has a fifty day moving average of $187.94 and a two-hundred day moving average of $181.45. The stock has a market capitalization of $10.05 billion, a PE ratio of 38.71, a P/E/G ratio of 3.07 and a beta of 1.09. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $197.95.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid 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 dividend yield of 3.3%. EastGroup Properties’s payout ratio is currently 127.31%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price target on the stock. in a research report on Monday, January 5th. Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. KeyCorp raised their target price on EastGroup Properties from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Truist Financial upped their price target on EastGroup Properties from $203.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Evercore set a $188.00 price target on EastGroup Properties in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and an average price target of $200.18.

EastGroup Properties Company 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.