EastGroup Properties, Inc. (NYSE:EGP) Stock Holdings Increased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 24.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,247 shares of the real estate investment trust's stock after buying an additional 2,178 shares during the quarter. Avantax Advisory Services Inc.'s holdings in EastGroup Properties were worth $1,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. LPL Financial LLC boosted its holdings in shares of EastGroup Properties by 15.8% in the 4th quarter. LPL Financial LLC now owns 13,294 shares of the real estate investment trust's stock valued at $2,134,000 after acquiring an additional 1,810 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in EastGroup Properties by 4.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 32,651 shares of the real estate investment trust's stock valued at $5,255,000 after buying an additional 1,360 shares in the last quarter. Norges Bank acquired a new position in shares of EastGroup Properties in the fourth quarter worth about $100,579,000. Pictet Asset Management Holding SA raised its position in shares of EastGroup Properties by 1.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 15,551 shares of the real estate investment trust's stock worth $2,496,000 after acquiring an additional 155 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of EastGroup Properties by 0.9% during the 4th quarter. California Public Employees Retirement System now owns 81,270 shares of the real estate investment trust's stock worth $13,043,000 after acquiring an additional 690 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Performance

NYSE EGP traded down $1.20 during trading hours on Friday, reaching $162.04. The company's stock had a trading volume of 496,103 shares, compared to its average volume of 462,776. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $168.31 and a 200 day simple moving average of $169.76. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.21. The stock has a market cap of $8.64 billion, a PE ratio of 35.00, a PEG ratio of 3.30 and a beta of 0.98.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.01. EastGroup Properties had a return on equity of 7.29% and a net margin of 34.85%. The business had revenue of $177.29 million during the quarter, compared to analyst estimates of $175.80 million. During the same quarter in the previous year, the firm posted $2.05 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $1.40 dividend. The ex-dividend date was Monday, June 30th. This represents a $5.60 annualized dividend and a yield of 3.5%. EastGroup Properties's dividend payout ratio (DPR) is currently 120.95%.

Analyst Ratings Changes

EGP has been the topic of several research analyst reports. Evercore ISI lifted their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Barclays reduced their target price on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird cut their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Piper Sandler decreased their price target on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus target price of $189.31.

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.