Natixis Advisors LLC Sells 7,905 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Natixis Advisors LLC lessened its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,145 shares of the real estate investment trust's stock after selling 7,905 shares during the period. Natixis Advisors LLC owned about 0.11% of EastGroup Properties worth $10,066,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EGP. Citizens National Bank Trust Department bought a new position in shares of EastGroup Properties in the 1st quarter valued at approximately $26,000. Assetmark Inc. boosted its holdings in EastGroup Properties by 1,035.7% during the first quarter. Assetmark Inc. now owns 159 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 145 shares in the last quarter. Mather Group LLC. boosted its stake 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 valued at $64,000 after buying an additional 155 shares in the last quarter. Parallel Advisors LLC raised its stake in EastGroup Properties by 387.4% during the first quarter. Parallel Advisors LLC now owns 424 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 337 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of EastGroup Properties by 31.9% during 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 in the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Up 0.8%

NYSE:EGP traded up $1.28 on Thursday, hitting $163.23. 124,804 shares of the company's stock were exchanged, compared to its average volume of 437,937. The company has a market cap of $8.71 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 3.34 and a beta of 0.98. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.16 and a quick ratio of 0.16. The firm has a 50-day moving average price of $168.08 and a 200-day moving average price of $169.72.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.01. EastGroup Properties had a net margin of 34.85% and a return on equity of 7.29%. The company had revenue of $177.29 million for the quarter, compared to analysts' expectations of $175.80 million. During the same quarter in the previous year, the firm posted $2.05 earnings per share. EastGroup Properties's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, June 30th. EastGroup Properties's dividend payout ratio (DPR) is currently 120.95%.

Analysts Set New Price Targets

Several brokerages have recently commented on EGP. Barclays reduced their target price on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Raymond James Financial restated a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. Evercore ISI raised their price target on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. Piper Sandler decreased their price objective 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. Finally, Wells Fargo & Company set a $215.00 price objective on EastGroup Properties and gave the stock an "overweight" rating in a report on Sunday, July 13th. Seven research 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.