Coldstream Capital Management Inc. Purchases 913 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Coldstream Capital Management Inc. grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 67.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,267 shares of the real estate investment trust’s stock after purchasing an additional 913 shares during the quarter. Coldstream Capital Management Inc.’s holdings in EastGroup Properties were worth $416,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in EastGroup Properties by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,532,176 shares of the real estate investment trust’s stock worth $1,087,803,000 after buying an additional 81,798 shares during the period. Deutsche Bank AG boosted its stake in shares of EastGroup Properties by 3.9% in the 3rd quarter. Deutsche Bank AG now owns 1,042,443 shares of the real estate investment trust’s stock worth $173,598,000 after buying an additional 38,766 shares during the last quarter. Boston Partners boosted its stake in shares of EastGroup Properties by 42.7% in the 4th quarter. Boston Partners now owns 756,309 shares of the real estate investment trust’s stock worth $138,813,000 after buying an additional 226,169 shares during the last quarter. Invesco Ltd. boosted its stake in shares of EastGroup Properties by 12.7% in the 3rd quarter. Invesco Ltd. now owns 726,446 shares of the real estate investment trust’s stock worth $120,975,000 after buying an additional 81,636 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in EastGroup Properties by 113.1% during the third quarter. Wellington Management Group LLP now owns 695,206 shares of the real estate investment trust’s stock valued at $115,773,000 after purchasing an additional 368,954 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Down 0.2 %

Shares of EGP stock traded down $0.37 during trading hours on Friday, reaching $160.50. 180,444 shares of the company’s stock were exchanged, compared to its average volume of 262,391. The stock’s 50 day moving average is $167.78 and its 200-day moving average is $174.88. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 2.51 and a beta of 0.96. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63. EastGroup Properties, Inc. has a fifty-two week low of $154.75 and a fifty-two week high of $188.85.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.08 annualized dividend and a dividend yield of 3.17%. EastGroup Properties’s dividend payout ratio (DPR) is presently 110.20%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EGP shares. Royal Bank of Canada reduced their target price on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating on the stock in a report on Monday, May 6th. KeyCorp reduced their price objective on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Truist Financial boosted their price objective on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Robert W. Baird reduced their price objective on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Finally, Barclays reduced their price objective on EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $184.00.

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.