Brown Advisory Inc. Sells 6,309 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Brown Advisory Inc. trimmed its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 494,065 shares of the real estate investment trust's stock after selling 6,309 shares during the period. Brown Advisory Inc. owned approximately 0.94% of EastGroup Properties worth $87,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Citizens National Bank Trust Department acquired a new position in EastGroup Properties during the first quarter valued at $26,000. Crowley Wealth Management Inc. acquired a new position in EastGroup Properties in the 4th quarter worth about $29,000. Mather Group LLC. increased its position in EastGroup Properties by 74.2% in the 1st quarter. Mather Group LLC. now owns 364 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 155 shares during the last quarter. Parallel Advisors LLC increased its position in EastGroup Properties by 387.4% in the 1st quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 337 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in EastGroup Properties by 31.9% in the 1st quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 108 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

NYSE:EGP traded up $1.13 during mid-day trading on Friday, hitting $167.87. 440,637 shares of the company's stock traded hands, compared to its average volume of 383,259. The firm has a 50 day moving average of $169.35 and a two-hundred day moving average of $169.17. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.61. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 36.73, a price-to-earnings-growth ratio of 3.69 and a beta of 1.01. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.43.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.01. EastGroup Properties had a return on equity of 7.41% and a net margin of 34.60%. The firm 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 company earned $1.98 EPS. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities analysts forecast 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 will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $1.40 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.34%. EastGroup Properties's dividend payout ratio is currently 122.54%.

Analyst Ratings Changes

Several brokerages have weighed in on EGP. Truist Financial dropped their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Barclays dropped their target price on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI upped their target price on EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Wells Fargo & Company dropped their target price on EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Piper Sandler lowered their price objective on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, EastGroup Properties presently has an average rating of "Moderate Buy" and an average target price of $188.00.

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.