UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in EastGroup Properties, Inc. (NYSE:EGP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 377,810 shares of the real estate investment trust's stock after selling 13,784 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.76% of EastGroup Properties worth $60,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGP. Vanguard Group Inc. increased its holdings in EastGroup Properties by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock valued at $1,121,978,000 after buying an additional 72,199 shares during the period. Cohen & Steers Inc. raised its position in EastGroup Properties by 141.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock worth $458,347,000 after purchasing an additional 1,673,663 shares during the last quarter. FMR LLC raised its holdings in EastGroup Properties by 1.4% during the 4th quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust's stock worth $253,496,000 after purchasing an additional 21,432 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of EastGroup Properties by 24.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock worth $226,888,000 after buying an additional 273,217 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of EastGroup Properties by 34.1% in the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock valued at $169,533,000 after purchasing an additional 268,359 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Trading Down 1.3%

NYSE EGP traded down $2.19 during trading hours on Friday, reaching $168.39. The company's stock had a trading volume of 112,603 shares, compared to its average volume of 373,233. The company has a debt-to-equity ratio of 0.46, 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 fifty day simple moving average of $164.72 and a 200-day simple moving average of $169.13. The stock has a market cap of $8.84 billion, a P/E ratio of 36.22, a P/E/G ratio of 3.35 and a beta of 1.05.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.01. The firm had revenue of $174.45 million during the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The company's revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.98 EPS. Equities analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The business 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 $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Monday, June 30th. EastGroup Properties's dividend payout ratio (DPR) is presently 122.54%.

Analysts Set New Price Targets

EGP has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Robert W. Baird cut their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Royal Bank of Canada decreased their target price on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Raymond James restated a "strong-buy" rating on shares of EastGroup Properties in a report on Wednesday, May 7th. Finally, Barclays lowered their price target on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $186.60.

About EastGroup Properties

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.