Envestnet Portfolio Solutions Inc. Sells 274 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Envestnet Portfolio Solutions Inc. lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,008 shares of the real estate investment trust’s stock after selling 274 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in EastGroup Properties were worth $643,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EGP. CIBC Asset Management Inc boosted its holdings in shares of EastGroup Properties by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock worth $234,000 after purchasing an additional 72 shares during the period. Principal Securities Inc. boosted its stake in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 84 shares during the period. Versant Capital Management Inc increased its position in EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 95 shares during the last quarter. waypoint wealth counsel raised its stake in shares of EastGroup Properties by 1.9% in the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after acquiring an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of EastGroup Properties by 1.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust’s stock worth $1,612,000 after acquiring an additional 100 shares during the last quarter. 92.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EGP has been the topic of a number of recent analyst reports. StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Truist Financial upped their price objective on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Finally, Robert W. Baird upped their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.47.

EastGroup Properties Trading Up 1.9 %

Shares of NYSE:EGP opened at $176.32 on Tuesday. 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 company has a market capitalization of $9.17 billion, a PE ratio of 37.92, a P/E/G ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month high of $192.61. The business’s fifty day simple moving average is $175.79 and its 200-day simple moving average is $174.69.

EastGroup Properties (NYSE:EGP) last announced 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%. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.40 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 annualized dividend and a yield of 3.18%. EastGroup Properties’s dividend payout ratio (DPR) is 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.