Centersquare Investment Management LLC Purchases 256,019 Shares of EastGroup Properties, Inc. $EGP

Centersquare Investment Management LLC grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 619.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 297,319 shares of the real estate investment trust’s stock after purchasing an additional 256,019 shares during the quarter. Centersquare Investment Management LLC owned approximately 0.56% of EastGroup Properties worth $50,324,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. US Bancorp DE grew its position in EastGroup Properties by 2.2% during the third quarter. US Bancorp DE now owns 4,633 shares of the real estate investment trust’s stock valued at $784,000 after acquiring an additional 100 shares during the last quarter. MAI Capital Management boosted 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of EastGroup Properties by 7.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,991 shares of the real estate investment trust’s stock valued at $337,000 after purchasing an additional 137 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its stake in EastGroup Properties by 4.7% in the third quarter. Vestmark Advisory Solutions Inc. now owns 3,329 shares of the real estate investment trust’s stock worth $563,000 after purchasing an additional 149 shares during the last quarter. Finally, Channing Capital Management LLC boosted its position in EastGroup Properties by 14.5% during the third quarter. Channing Capital Management LLC now owns 55,184 shares of the real estate investment trust’s stock valued at $9,340,000 after buying an additional 7,004 shares during the period. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $191.01 on Thursday. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 3.10 and a beta of 1.11. The stock has a fifty day moving average of $184.56 and a 200 day moving average of $177.02. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $193.96. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio is presently 127.31%.

Wall Street Analyst Weigh In

EGP has been the subject of several analyst reports. Royal Bank Of Canada increased their target price on EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a report on Wednesday, February 18th. Mizuho reissued a “neutral” rating and set a $172.00 price objective (down from $180.00) on shares of EastGroup Properties in a research note on Thursday, December 4th. Weiss Ratings restated a “buy (b-)” rating on shares of EastGroup Properties in a report on Monday, December 29th. Evercore set a $188.00 price target on shares of EastGroup Properties in a report on Friday, February 6th. Finally, Barclays raised shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 4th. One investment 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 company’s stock. Based on data from MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus 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.