Brown Advisory Inc. Has $80.31 Million Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Brown Advisory Inc. lowered its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 500,374 shares of the real estate investment trust's stock after selling 4,658 shares during the period. Brown Advisory Inc. owned approximately 1.01% of EastGroup Properties worth $80,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of EGP. CIBC Asset Management Inc increased its position in shares of EastGroup Properties by 5.2% during 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 last quarter. Principal Securities Inc. raised its position 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 acquiring an additional 84 shares in the last quarter. Versant Capital Management Inc grew its position in shares of EastGroup Properties by 18.7% in the 4th 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 period. waypoint wealth counsel raised its holdings in shares of EastGroup Properties by 1.9% in the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after purchasing an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in 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 valued at $1,612,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Price Performance

Shares of NYSE EGP traded down $0.23 during mid-day trading on Wednesday, reaching $165.09. The company had a trading volume of 572,154 shares, compared to its average volume of 370,519. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 3.35 and a beta of 1.05. The business's 50-day simple moving average is $168.55 and its 200 day simple moving average is $169.85. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.

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, topping analysts' consensus estimates of $2.11 by $0.01. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The company had revenue of $174.45 million during the quarter, compared to the consensus estimate of $169.67 million. During the same quarter in the prior year, the firm posted $1.98 EPS. The firm's quarterly revenue was up 13.1% on a year-over-year basis. On average, research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.39%. EastGroup Properties's dividend payout ratio is currently 122.54%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada dropped 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. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Raymond James reissued a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday. Evercore ISI lifted their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a "buy" rating and a $180.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus price target of $187.40.

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.