B. Riley Wealth Advisors Inc. Sells 678 Shares of EastGroup Properties, Inc. (NYSE:EGP)

B. Riley Wealth Advisors Inc. lowered its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 28.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,683 shares of the real estate investment trust’s stock after selling 678 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in EastGroup Properties were worth $288,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd lifted its holdings in EastGroup Properties by 13.3% during the 4th quarter. Quadrature Capital Ltd now owns 8,220 shares of the real estate investment trust’s stock valued at $1,509,000 after purchasing an additional 964 shares during the last quarter. State of Tennessee Treasury Department acquired a new stake in shares of EastGroup Properties during the 4th quarter worth about $12,840,000. RMB Capital Management LLC boosted its holdings in shares of EastGroup Properties by 1.2% during the 4th quarter. RMB Capital Management LLC now owns 125,320 shares of the real estate investment trust’s stock worth $23,001,000 after buying an additional 1,500 shares during the period. Cohen & Steers Inc. grew its stake in EastGroup Properties by 1.0% in the 4th quarter. Cohen & Steers Inc. now owns 256,205 shares of the real estate investment trust’s stock valued at $47,024,000 after buying an additional 2,565 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new position in EastGroup Properties in the 4th quarter valued at about $519,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

EGP has been the topic of several research reports. Royal Bank of Canada upped their target price on EastGroup Properties from $172.00 to $186.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 30th. Wedbush upped their price objective on EastGroup Properties from $208.00 to $209.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Truist Financial lifted their target price on EastGroup Properties from $176.00 to $190.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company upgraded shares of EastGroup Properties from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $179.00 to $214.00 in a research note on Wednesday, August 28th. Finally, Barclays lifted their price objective on shares of EastGroup Properties from $175.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.07.

EastGroup Properties Stock Down 0.2 %

Shares of EGP opened at $177.56 on Wednesday. The firm has a 50 day simple moving average of $184.87 and a two-hundred day simple moving average of $175.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.21 and a quick ratio of 0.21. EastGroup Properties, Inc. has a one year low of $154.75 and a one year high of $192.61. The company has a market cap of $8.55 billion, a P/E ratio of 38.52, a P/E/G ratio of 2.83 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.91). EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The business had revenue of $159.09 million for the quarter, compared to the consensus estimate of $156.70 million. During the same quarter in the prior year, the company earned $1.89 earnings per share. EastGroup Properties’s quarterly revenue was up 13.7% compared to the same quarter last year. Research analysts forecast that EastGroup Properties, Inc. will post 8.32 EPS for the current fiscal year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $1.40 dividend. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.60 annualized dividend and a yield of 3.15%. EastGroup Properties’s dividend payout ratio is presently 121.48%.

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.