EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. reduced its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 506,835 shares of the real estate investment trust's stock after selling 10,935 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.97% of EastGroup Properties worth $89,279,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bar Harbor Wealth Management lifted its holdings in shares of EastGroup Properties by 0.3% during the 1st quarter. Bar Harbor Wealth Management now owns 23,344 shares of the real estate investment trust's stock valued at $4,112,000 after purchasing an additional 66 shares during the last quarter. CIBC Asset Management Inc increased its position in 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 valued at $234,000 after buying an additional 72 shares in the last quarter. Principal Securities Inc. raised its stake in EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 84 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in EastGroup Properties by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust's stock worth $1,612,000 after acquiring an additional 100 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in EastGroup Properties by 1.4% in the fourth quarter. US Bancorp DE now owns 7,395 shares of the real estate investment trust's stock worth $1,187,000 after acquiring an additional 102 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Performance

EGP traded up $0.96 during midday trading on Wednesday, hitting $171.52. 138,208 shares of the company were exchanged, compared to its average volume of 374,624. The company's 50 day simple moving average is $165.95 and its 200 day simple moving average is $168.94. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 3.76 and a beta of 1.02. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.61. 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 issued 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 firm 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 company's revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.98 earnings per share. As a group, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.40 per share. The ex-dividend date is Monday, June 30th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.26%. EastGroup Properties's payout ratio is 122.54%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Piper Sandler cut 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 note on Tuesday, April 15th. Royal Bank Of Canada decreased their price target on shares of EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company lowered their price objective on shares of EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. 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. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average 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.