EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its position in EastGroup Properties, Inc. (NYSE:EGP) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,801 shares of the real estate investment trust’s stock after selling 569 shares during the period. Sanctuary Advisors LLC’s holdings in EastGroup Properties were worth $1,158,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EGP. FMR LLC raised its position in shares of EastGroup Properties by 67.9% in 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 buying an additional 629,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 buying an additional 305,555 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in EastGroup Properties by 50.9% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 517,770 shares of the real estate investment trust’s stock valued at $83,098,000 after purchasing an additional 174,630 shares during the period. Vision Capital Corp purchased a new stake in EastGroup Properties in the third quarter valued at approximately $18,308,000. Finally, Janus Henderson Group PLC grew its holdings in EastGroup Properties by 18.5% in the third quarter. Janus Henderson Group PLC now owns 387,972 shares of the real estate investment trust’s stock valued at $72,438,000 after purchasing an additional 60,624 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

EGP has been the subject of a number of recent analyst reports. KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Morgan Stanley lowered their target price 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. Truist Financial boosted their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company lowered their target price on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Raymond James upgraded shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $185.00 to $200.00 in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.65.

EastGroup Properties Trading Up 0.7 %

NYSE EGP opened at $181.95 on Wednesday. The company’s fifty day simple moving average is $167.89 and its 200-day simple moving average is $175.18. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock has a market cap of $9.47 billion, a P/E ratio of 39.13, a PEG ratio of 3.35 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $5.60 annualized dividend and a yield of 3.08%. EastGroup Properties’s dividend payout ratio is presently 120.43%.

EastGroup Properties Company 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.