Van ECK Associates Corp Increases Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Van ECK Associates Corp increased its holdings in EastGroup Properties, Inc. (NYSE:EGPFree Report) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,210 shares of the real estate investment trust’s stock after purchasing an additional 2,356 shares during the period. Van ECK Associates Corp’s holdings in EastGroup Properties were worth $3,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EGP. GAMMA Investing LLC purchased a new stake in EastGroup Properties during the fourth quarter valued at about $31,000. Venturi Wealth Management LLC lifted its stake in shares of EastGroup Properties by 51.6% during the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in shares of EastGroup Properties during the fourth quarter worth about $37,000. Mather Group LLC. acquired a new position in shares of EastGroup Properties during the first quarter worth about $42,000. Finally, Tucker Asset Management LLC acquired a new position in shares of EastGroup Properties during the third quarter worth about $44,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of recent research reports. KeyCorp reduced their price objective on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. JPMorgan Chase & Co. reduced their price objective on EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Mizuho reduced their price objective on EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Piper Sandler reduced their price objective on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, Barclays cut their price target on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $182.41.

Read Our Latest Report on EastGroup Properties

EastGroup Properties Trading Up 0.9 %

Shares of NYSE EGP opened at $173.61 on Friday. The stock’s 50 day moving average price is $164.86 and its two-hundred day moving average price is $173.47. EastGroup Properties, Inc. has a 52-week low of $154.75 and a 52-week high of $188.85. The stock has a market capitalization of $8.36 billion, a P/E ratio of 37.66, a PEG ratio of 2.68 and a beta of 0.98. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.63.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, June 28th. EastGroup Properties’s payout ratio is currently 110.20%.

EastGroup Properties Company Profile

(Free Report)

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.

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

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