APG Asset Management US Inc. Purchases 31,805 Shares of EastGroup Properties, Inc. $EGP

APG Asset Management US Inc. increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 11.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 300,159 shares of the real estate investment trust’s stock after purchasing an additional 31,805 shares during the quarter. EastGroup Properties makes up about 0.4% of APG Asset Management US Inc.’s holdings, making the stock its 29th biggest position. APG Asset Management US Inc. owned approximately 0.56% of EastGroup Properties worth $51,660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. True Wealth Design LLC increased its position in shares of EastGroup Properties by 159.7% during the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. State of Wyoming bought a new position in EastGroup Properties during the second quarter valued at about $27,000. MAI Capital Management increased its holdings in EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 82 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in EastGroup Properties in the third quarter worth about $34,000. Finally, Mather Group LLC. purchased a new position in EastGroup Properties in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP opened at $196.32 on Friday. EastGroup Properties, Inc. has a 52-week low of $137.67 and a 52-week high of $197.95. The stock’s 50-day simple moving average is $185.12 and its 200 day simple moving average is $177.51. 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 stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is 127.31%.

Wall Street Analyst Weigh In

A number of research firms recently commented on EGP. Morgan Stanley set a $205.00 price target on shares of EastGroup Properties in a report on Friday, January 16th. Cantor Fitzgerald raised their target price on EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Evercore set a $188.00 target price on EastGroup Properties in a research note on Friday, February 6th. Wall Street Zen downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Finally, Wells Fargo & Company boosted their price objective on EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and an average target price 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.