Sterling Capital Management LLC held its position in EastGroup Properties, Inc. (NYSE:EGP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,600 shares of the real estate investment trust’s stock at the end of the 2nd quarter. Sterling Capital Management LLC owned about 0.13% of EastGroup Properties worth $3,737,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in EastGroup Properties by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,481,319 shares of the real estate investment trust’s stock valued at $459,334,000 after buying an additional 73,355 shares during the last quarter. BlackRock Inc. boosted its position in EastGroup Properties by 2.6% in the 2nd quarter. BlackRock Inc. now owns 4,961,740 shares of the real estate investment trust’s stock valued at $415,793,000 after buying an additional 124,476 shares during the last quarter. JPMorgan Chase & Co. boosted its position in EastGroup Properties by 2.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,450,299 shares of the real estate investment trust’s stock valued at $205,335,000 after buying an additional 66,858 shares during the last quarter. State Street Corp boosted its position in EastGroup Properties by 3.8% in the 2nd quarter. State Street Corp now owns 1,299,564 shares of the real estate investment trust’s stock valued at $108,905,000 after buying an additional 47,824 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its position in EastGroup Properties by 42.9% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 779,163 shares of the real estate investment trust’s stock valued at $46,349,000 after buying an additional 233,802 shares during the last quarter. Institutional investors and hedge funds own 96.42% of the company’s stock.

A number of brokerages have commented on EGP. KeyCorp reiterated a “neutral” rating on shares of EastGroup Properties in a research report on Friday, August 25th. ValuEngine upgraded EastGroup Properties from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Sandler O’Neill upgraded EastGroup Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $90.00 to $104.00 in a research report on Tuesday, September 5th. Zacks Investment Research lowered EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Bank of America Corporation upgraded EastGroup Properties from a “neutral” rating to a “buy” rating and increased their price objective for the company from $91.00 to $96.00 in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.90.

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EastGroup Properties, Inc. (NYSE:EGP) traded up 0.49% on Friday, hitting $92.23. The stock had a trading volume of 235,181 shares. The company has a 50 day moving average of $89.41 and a 200 day moving average of $83.71. EastGroup Properties, Inc. has a 12-month low of $63.99 and a 12-month high of $92.36. The company has a market capitalization of $3.15 billion, a PE ratio of 38.65 and a beta of 0.98.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.60. The company had revenue of $67.90 million during the quarter, compared to the consensus estimate of $67.16 million. EastGroup Properties had a net margin of 30.20% and a return on equity of 12.05%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. On average, equities analysts expect that EastGroup Properties, Inc. will post $2.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, September 14th. This is an increase from EastGroup Properties’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 2.78%. EastGroup Properties’s dividend payout ratio is 108.02%.

About EastGroup Properties

EastGroup Properties, Inc is an equity real estate investment trust (REIT). The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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