EastGroup Properties, Inc. $EGP Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 6.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 40,366 shares of the real estate investment trust’s stock after acquiring an additional 2,602 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in EastGroup Properties were worth $6,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. True Wealth Design LLC grew its holdings 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 worth $27,000 after purchasing an additional 99 shares during the period. State of Wyoming purchased a new position in EastGroup Properties during the second quarter worth about $27,000. MAI Capital Management boosted its stake 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 period. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of EastGroup Properties during the third quarter valued at about $34,000. Finally, Mather Group LLC. purchased a new stake in shares of EastGroup Properties in the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird set a $203.00 price objective on shares of EastGroup Properties in a research report on Wednesday, February 11th. Evercore set a $188.00 price objective on EastGroup Properties in a research note on Friday, February 6th. Mizuho reiterated a “neutral” rating and issued a $172.00 price objective (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price for the company. in a report on Monday, January 5th. Finally, KeyCorp boosted their price target on shares of EastGroup Properties from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and a consensus target price of $200.18.

EastGroup Properties Price Performance

EGP stock opened at $196.28 on Tuesday. The business’s 50-day moving average is $185.43 and its two-hundred day moving average is $177.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01. The firm has a market capitalization of $10.47 billion, a P/E ratio of 40.30, a P/E/G ratio of 3.20 and a beta of 1.10. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $197.95.

EastGroup Properties Dividend Announcement

The company 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. The ex-dividend date was Wednesday, December 31st. This represents a $6.20 dividend on an annualized basis and a yield of 3.2%. EastGroup Properties’s payout ratio is currently 127.31%.

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.