OneAscent Financial Services LLC Increases Holdings in EastGroup Properties, Inc. (NYSE:EGP)

OneAscent Financial Services LLC grew its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 76.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,298 shares of the real estate investment trust's stock after buying an additional 1,867 shares during the period. OneAscent Financial Services LLC's holdings in EastGroup Properties were worth $760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bar Harbor Wealth Management boosted its position in EastGroup Properties by 0.3% in 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 buying an additional 66 shares during the last quarter. Optas LLC boosted its holdings in EastGroup Properties by 5.1% during the first quarter. Optas LLC now owns 1,397 shares of the real estate investment trust's stock worth $246,000 after purchasing an additional 68 shares during the last quarter. KBC Group NV increased its position in 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 worth $363,000 after acquiring an additional 69 shares during the period. Moran Wealth Management LLC lifted its position in shares of EastGroup Properties by 1.1% in the 1st quarter. Moran Wealth Management LLC now owns 6,521 shares of the real estate investment trust's stock worth $1,149,000 after purchasing an additional 73 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its holdings in EastGroup Properties by 3.6% during 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 owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Evercore ISI lifted their price target on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research report on Thursday, April 24th. Raymond James Financial reiterated a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Wells Fargo & Company set a $215.00 price target on shares of EastGroup Properties and gave the stock an "overweight" rating in a research note on Sunday, July 13th. Truist Financial dropped their price objective on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties has an average rating of "Moderate Buy" and a consensus price target of $190.00.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $165.51 on Tuesday. 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, Inc. has a 52-week low of $137.67 and a 52-week high of $192.61. The firm has a market capitalization of $8.69 billion, a P/E ratio of 36.22, a P/E/G ratio of 3.65 and a beta of 1.01. The stock has a fifty day moving average price of $169.21 and a two-hundred day moving average price of $169.43.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.11 by $0.01. The company had revenue of $174.45 million during 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%. EastGroup Properties's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. As a group, analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $1.40 dividend. The ex-dividend date was Monday, June 30th. This represents a $5.60 annualized dividend and a yield of 3.38%. EastGroup Properties's dividend payout ratio is currently 122.54%.

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.

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