Vaughan Nelson Investment Management L.P. Has $83.10 Million Stake in EastGroup Properties, Inc. (NYSE:EGP)

Vaughan Nelson Investment Management L.P. raised its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 50.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 517,770 shares of the real estate investment trust’s stock after acquiring an additional 174,630 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in EastGroup Properties were worth $83,098,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in EGP. FMR LLC increased its stake in 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 valued at $291,081,000 after acquiring an additional 629,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 in the last quarter. Vision Capital Corp bought a new position in EastGroup Properties in the third quarter worth $18,308,000. Janus Henderson Group PLC boosted its stake 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 worth $72,438,000 after buying an additional 60,624 shares in the last quarter. Finally, State Street Corp boosted its stake in EastGroup Properties by 2.1% during the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust’s stock worth $456,872,000 after buying an additional 49,268 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Up 0.8 %

Shares of EGP opened at $174.79 on Friday. The business’s fifty day moving average price is $165.59 and its two-hundred day moving average price is $175.64. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 3.23 and a beta of 1.00. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 8.27% and a net margin of 35.57%. On average, analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.20%. EastGroup Properties’s payout ratio is presently 120.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Wells Fargo & Company cut their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Wedbush reiterated an “outperform” rating and issued a $209.00 price objective on shares of EastGroup Properties in a research note on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.88.

EastGroup Properties 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.