EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC lowered its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,969 shares of the real estate investment trust’s stock after selling 93 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in EastGroup Properties were worth $1,302,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Gradient Investments LLC acquired a new position in shares of EastGroup Properties in the 2nd quarter worth approximately $32,000. V Square Quantitative Management LLC grew its stake in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 61 shares during the last quarter. Quest Partners LLC grew its stake in shares of EastGroup Properties by 10,400.0% in the 2nd quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of EastGroup Properties by 30.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 80 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of EastGroup Properties in the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Up 0.6 %

EGP opened at $171.97 on Friday. EastGroup Properties, Inc. has a fifty-two week low of $155.23 and a fifty-two 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. The company has a market capitalization of $8.51 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.61 and a beta of 1.00. The stock has a fifty day moving average of $180.51 and a 200-day moving average of $176.38.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. During the same period in the prior year, the business posted $1.95 EPS. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, equities analysts expect that EastGroup Properties, Inc. will post 8.35 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, September 30th. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.27. EastGroup Properties’s payout ratio is currently 115.70%.

Analyst Upgrades and Downgrades

EGP has been the topic of several analyst reports. Mizuho raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $175.00 to $200.00 in a research report on Thursday, September 5th. Morgan Stanley boosted their price objective on shares of EastGroup Properties from $158.00 to $186.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd. Evercore ISI boosted their price objective on shares of EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. StockNews.com downgraded shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Truist Financial lowered their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $191.21.

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.