Brown Advisory Inc. Decreases Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Brown Advisory Inc. reduced its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 494,065 shares of the real estate investment trust's stock after selling 6,309 shares during the quarter. Brown Advisory Inc. owned about 0.94% of EastGroup Properties worth $87,030,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bar Harbor Wealth Management raised its stake in shares of EastGroup Properties by 0.3% during the first quarter. Bar Harbor Wealth Management now owns 23,344 shares of the real estate investment trust's stock valued at $4,112,000 after acquiring an additional 66 shares during the last quarter. Optas LLC grew its stake in shares of EastGroup Properties by 5.1% in the 1st quarter. Optas LLC now owns 1,397 shares of the real estate investment trust's stock valued at $246,000 after buying an additional 68 shares during the period. KBC Group NV increased its holdings in shares of EastGroup Properties by 3.5% during the first quarter. KBC Group NV now owns 2,058 shares of the real estate investment trust's stock valued at $363,000 after acquiring an additional 69 shares in the last quarter. Moran Wealth Management LLC boosted its stake in EastGroup Properties by 1.1% during the 1st quarter. Moran Wealth Management LLC now owns 6,521 shares of the real estate investment trust's stock valued at $1,149,000 after purchasing an additional 73 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC raised its holdings in shares of EastGroup Properties by 3.6% in the first quarter. Cyndeo Wealth Partners LLC now owns 2,264 shares of the real estate investment trust's stock valued at $399,000 after purchasing an additional 78 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

EGP traded down $1.26 during trading on Wednesday, reaching $166.94. 359,745 shares of the company's stock were exchanged, compared to its average volume of 378,931. The stock has a market capitalization of $8.77 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 3.70 and a beta of 1.01. The company's fifty day simple moving average is $169.21 and its 200-day simple moving average is $169.11. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.12 and a quick ratio of 0.12.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating the consensus estimate of $2.11 by $0.01. The company had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 34.60% and a return on equity of 7.41%. The firm's revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $1.98 earnings per share. As a group, research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $1.40 per share. The ex-dividend date is Monday, June 30th. This represents a $5.60 annualized dividend and a dividend yield of 3.35%. EastGroup Properties's payout ratio is 122.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EGP shares. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Piper Sandler reduced their price target on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird dropped their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Barclays cut their price objective 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. Finally, Truist Financial lowered their price objective on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, EastGroup Properties presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.00.

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.