EastGroup Properties, Inc. (NYSE:EGP) Position Lessened by Brown Advisory Inc.

Brown Advisory Inc. decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,374 shares of the real estate investment trust's stock after selling 4,658 shares during the quarter. Brown Advisory Inc. owned about 1.01% of EastGroup Properties worth $80,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its stake in shares of EastGroup Properties by 41.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 718,895 shares of the real estate investment trust's stock worth $115,375,000 after buying an additional 210,905 shares during the last quarter. Bank of America Corp DE increased its position in shares of EastGroup Properties by 8.6% in the 4th quarter. Bank of America Corp DE now owns 442,067 shares of the real estate investment trust's stock worth $70,947,000 after purchasing an additional 34,900 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of EastGroup Properties by 2.6% in the 4th quarter. Ameriprise Financial Inc. now owns 76,182 shares of the real estate investment trust's stock valued at $12,232,000 after purchasing an additional 1,964 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in shares of EastGroup Properties by 22.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 38,532 shares of the real estate investment trust's stock worth $6,184,000 after purchasing an additional 7,030 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in EastGroup Properties by 11.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,941 shares of the real estate investment trust's stock worth $4,324,000 after purchasing an additional 2,862 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EGP has been the topic of several research reports. Evercore ISI upped their price objective on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Royal Bank of Canada reduced their price objective on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Barclays decreased their price objective on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Truist Financial dropped their target price on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $187.40.

EastGroup Properties Price Performance

Shares of EastGroup Properties stock traded up $0.98 on Friday, hitting $167.99. The company had a trading volume of 231,352 shares, compared to its average volume of 370,671. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The business has a 50-day simple moving average of $167.87 and a 200-day simple moving average of $169.60. The company has a market cap of $8.82 billion, a PE ratio of 36.13, a PEG ratio of 3.35 and a beta of 1.05.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. The company had revenue of $174.45 million during the quarter, compared to the consensus estimate of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. EastGroup Properties's revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.98 EPS. Research analysts expect 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 Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $1.40 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.33%. EastGroup Properties's dividend payout ratio is currently 122.54%.

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.