EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Brinker Capital Investments LLC

Brinker Capital Investments LLC boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGPGet Rating) by 38.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,411 shares of the real estate investment trust’s stock after purchasing an additional 1,216 shares during the period. Brinker Capital Investments LLC’s holdings in EastGroup Properties were worth $637,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Great West Life Assurance Co. Can lifted its position in shares of EastGroup Properties by 13.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 66,118 shares of the real estate investment trust’s stock valued at $9,536,000 after acquiring an additional 7,630 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of EastGroup Properties by 115.5% in the 3rd quarter. Park Avenue Securities LLC now owns 2,935 shares of the real estate investment trust’s stock valued at $424,000 after acquiring an additional 1,573 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of EastGroup Properties by 12.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,104 shares of the real estate investment trust’s stock valued at $3,046,000 after acquiring an additional 2,268 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of EastGroup Properties by 24.5% in the 3rd quarter. Raymond James Trust N.A. now owns 1,893 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 372 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its position in shares of EastGroup Properties by 371.8% in the 3rd quarter. Dupont Capital Management Corp now owns 8,715 shares of the real estate investment trust’s stock valued at $1,258,000 after acquiring an additional 6,868 shares in the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on EGP shares. StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Friday, October 28th. Truist Financial dropped their price objective on shares of EastGroup Properties from $175.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, November 29th. Morgan Stanley dropped their price objective on shares of EastGroup Properties from $195.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, October 17th. KeyCorp upgraded shares of EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $170.00 price objective on the stock in a research note on Wednesday, December 14th. Finally, BTIG Research dropped their price objective on shares of EastGroup Properties from $248.00 to $198.00 and set a “buy” rating on the stock in a research note on Monday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $167.70.

EastGroup Properties Stock Performance

Shares of EGP opened at $168.23 on Tuesday. The company’s fifty day moving average is $153.76 and its 200-day moving average is $156.95. EastGroup Properties, Inc. has a 12 month low of $137.47 and a 12 month high of $217.46. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.85.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $5.00 annualized dividend and a dividend yield of 2.97%. EastGroup Properties’s dividend payout ratio (DPR) is 95.24%.

About EastGroup Properties

(Get Rating)

EastGroup Properties, Inc is an internally-managed equity real estate investment trust. The firm is engaged in the development, acquisition, and operation of industrial properties in the United States. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina.

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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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