Ausbil Investment Management Ltd Acquires 7,813 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Ausbil Investment Management Ltd increased its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 116.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,550 shares of the real estate investment trust’s stock after buying an additional 7,813 shares during the period. EastGroup Properties comprises about 1.4% of Ausbil Investment Management Ltd’s holdings, making the stock its 26th biggest position. Ausbil Investment Management Ltd’s holdings in EastGroup Properties were worth $2,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of EGP. FMR LLC grew its holdings in shares of EastGroup Properties by 67.9% in the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after acquiring an additional 629,827 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in EastGroup Properties by 355.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust’s stock valued at $73,158,000 after purchasing an additional 305,555 shares during the period. Vision Capital Corp bought a new position in EastGroup Properties during the third quarter valued at $18,308,000. Vaughan Nelson Investment Management L.P. grew its holdings in EastGroup Properties by 22.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 343,140 shares of the real estate investment trust’s stock valued at $64,105,000 after purchasing an additional 62,381 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in EastGroup Properties by 18.5% during the third quarter. Janus Henderson Group PLC now owns 387,972 shares of the real estate investment trust’s stock valued at $72,438,000 after purchasing an additional 60,624 shares during the period. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Down 0.4 %

EGP stock opened at $169.61 on Friday. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The business’s 50 day moving average price is $165.70 and its two-hundred day moving average price is $176.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 3.13 and a beta of 1.00.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.30%. EastGroup Properties’s dividend payout ratio (DPR) is 115.70%.

Analyst Ratings Changes

EGP has been the subject of several research reports. Evercore ISI increased their price objective on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. StockNews.com lowered EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective on the stock. Morgan Stanley lowered their price objective on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, December 30th. Finally, Truist Financial lowered their price target on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and a consensus target price of $190.88.

About EastGroup Properties

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.