EntryPoint Capital LLC Buys 1,534 Shares of EastGroup Properties, Inc. (NYSE:EGP)

EntryPoint Capital LLC grew its position in EastGroup Properties, Inc. (NYSE:EGP) by 111.3% in the fourth quarter, Holdings Channel reports. The fund owned 2,912 shares of the real estate investment trust’s stock after acquiring an additional 1,534 shares during the quarter. EntryPoint Capital LLC’s holdings in EastGroup Properties were worth $467,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of EastGroup Properties during the fourth quarter worth about $116,756,000. FMR LLC lifted its holdings in shares of EastGroup Properties by 67.9% during the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock worth $291,081,000 after purchasing an additional 629,827 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of EastGroup Properties by 210.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust’s stock worth $113,584,000 after purchasing an additional 479,873 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in EastGroup Properties by 355.1% in 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. Finally, Boston Partners increased its stake in shares of EastGroup Properties by 34.1% in the fourth quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust’s stock valued at $169,533,000 after buying an additional 268,359 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.6 %

NYSE:EGP opened at $175.28 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61. The company has a market cap of $9.12 billion, a PE ratio of 37.69, a PEG ratio of 3.35 and a beta of 0.99. The firm has a 50-day moving average of $176.05 and a 200-day moving average of $174.62.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. As a group, equities research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s payout ratio is currently 120.43%.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective on the stock. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Truist Financial upped their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Finally, Evercore ISI reissued an “in-line” rating and issued a $185.00 price objective (up from $181.00) on shares of EastGroup Properties in a research report on Monday, March 17th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and a consensus target price of $190.47.

EastGroup Properties Company Profile

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.