Aptus Capital Advisors LLC Purchases 7,212 Shares of EastGroup Properties, Inc. $EGP

Aptus Capital Advisors LLC boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,849 shares of the real estate investment trust’s stock after buying an additional 7,212 shares during the quarter. Aptus Capital Advisors LLC owned approximately 0.10% of EastGroup Properties worth $9,284,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EGP. Principal Financial Group Inc. boosted its holdings in EastGroup Properties by 43.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after buying an additional 602,253 shares during the period. Nordea Investment Management AB lifted its position in shares of EastGroup Properties by 13.4% in the third quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock valued at $13,912,000 after acquiring an additional 9,776 shares in the last quarter. Citigroup Inc. grew its position in shares of EastGroup Properties by 38.3% during the third quarter. Citigroup Inc. now owns 61,461 shares of the real estate investment trust’s stock worth $10,403,000 after purchasing an additional 17,009 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in EastGroup Properties by 34.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock valued at $2,289,000 after purchasing an additional 3,480 shares during the period. Finally, Channing Capital Management LLC boosted its stake in EastGroup Properties by 14.5% in the 3rd quarter. Channing Capital Management LLC now owns 55,184 shares of the real estate investment trust’s stock worth $9,340,000 after purchasing an additional 7,004 shares during the period. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Price Performance

EGP stock opened at $188.20 on Friday. The business has a 50 day simple moving average of $186.35 and a 200-day simple moving average of $178.48. The company has a market capitalization of $10.04 billion, a P/E ratio of 38.64, a PEG ratio of 3.13 and a beta of 1.10. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $197.95. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $6.20 annualized dividend and a yield of 3.3%. EastGroup Properties’s dividend payout ratio is currently 127.31%.

Analyst Upgrades and Downgrades

EGP has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Royal Bank Of Canada increased their price objective on shares of EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 18th. KeyCorp upped their price target on shares of EastGroup Properties from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Truist Financial raised their price objective on EastGroup Properties from $203.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Finally, Citigroup upped their price objective on shares of EastGroup Properties from $210.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently 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.