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

Brown Advisory Inc. lowered its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 SEC.

A number of other hedge funds also recently modified their holdings of EGP. New York State Teachers Retirement System boosted its stake in shares of EastGroup Properties by 0.9% during the first quarter. New York State Teachers Retirement System now owns 53,630 shares of the real estate investment trust's stock valued at $9,447,000 after purchasing an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of EastGroup Properties by 211.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,237 shares of the real estate investment trust's stock valued at $748,000 after acquiring an additional 2,877 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of EastGroup Properties by 31.9% during the first quarter. Bessemer Group Inc. now owns 447 shares of the real estate investment trust's stock valued at $79,000 after acquiring an additional 108 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of EastGroup Properties by 6.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,800 shares of the real estate investment trust's stock valued at $317,000 after buying an additional 116 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its position in shares of EastGroup Properties by 2.2% during the fourth quarter. Osterweis Capital Management Inc. now owns 209,820 shares of the real estate investment trust's stock valued at $33,674,000 after buying an additional 4,484 shares during the last quarter. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Up 0.4%

Shares of EastGroup Properties stock traded up $0.60 on Thursday, reaching $167.44. The company's stock had a trading volume of 138,153 shares, compared to its average volume of 378,964. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.43. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 3.72 and a beta of 1.01. The firm's fifty day simple moving average is $169.28 and its two-hundred day simple moving average is $169.09.

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

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Monday, June 30th. EastGroup Properties's payout ratio is 122.54%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial cut their price objective 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. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Piper Sandler dropped their price target on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company dropped their price target 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, Raymond James Financial reaffirmed a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.