SG Americas Securities LLC Has $330,000 Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

SG Americas Securities LLC trimmed its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 89.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,874 shares of the real estate investment trust's stock after selling 15,342 shares during the period. SG Americas Securities LLC's holdings in EastGroup Properties were worth $330,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of EastGroup Properties by 5.2% in 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 acquiring an additional 72 shares during the period. Principal Securities Inc. raised its holdings in EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after buying an additional 84 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in EastGroup Properties by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust's stock worth $1,612,000 after buying an additional 100 shares during the period. US Bancorp DE raised its holdings in EastGroup Properties by 1.4% during the 4th quarter. US Bancorp DE now owns 7,395 shares of the real estate investment trust's stock worth $1,187,000 after buying an additional 102 shares during the period. Finally, Captrust Financial Advisors raised its holdings in EastGroup Properties by 1.4% during the 4th quarter. Captrust Financial Advisors now owns 8,394 shares of the real estate investment trust's stock worth $1,347,000 after buying an additional 112 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

NYSE EGP opened at $168.00 on Thursday. The company has a fifty day simple moving average of $167.83 and a 200 day simple moving average of $169.03. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month 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. The company has a market cap of $8.82 billion, a P/E ratio of 36.76, a PEG ratio of 3.84 and a beta of 1.02.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (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 net margin of 34.60% and a return on equity of 7.41%. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.98 EPS. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $1.40 dividend. The ex-dividend date is Monday, June 30th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.33%. EastGroup Properties's dividend payout ratio (DPR) is currently 122.54%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EGP. Barclays lowered their price objective on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Piper Sandler lowered their price objective on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Robert W. Baird lowered their price objective on shares of EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. 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 data from MarketBeat, EastGroup Properties has an average rating of "Moderate Buy" and a consensus target price 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.

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