EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its position in shares of EastGroup Properties by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 72 shares during the period. Principal Securities Inc. increased 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 purchasing an additional 84 shares during the period. waypoint wealth counsel raised its position in EastGroup Properties by 1.9% during the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of EastGroup Properties by 1.0% in 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. Finally, US Bancorp DE lifted its stake 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 during the period. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Up 1.9%

EGP traded up $3.14 on Tuesday, hitting $167.96. 252,312 shares of the company were exchanged, compared to its average volume of 373,077. The firm has a 50-day moving average price of $164.94 and a two-hundred day moving average price of $169.17. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data 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. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The business had revenue of $174.45 million during the quarter, compared to the consensus estimate of $169.67 million. During the same period in the previous year, the company posted $1.98 earnings per share. The business's revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Monday, June 30th. EastGroup Properties's dividend payout ratio (DPR) is presently 122.54%.

Analyst Ratings Changes

EGP has been the topic of several research analyst reports. Raymond James restated a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Wells Fargo & Company decreased their target price on EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Evercore ISI boosted their price target on EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Royal Bank of Canada dropped their target price on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Finally, Piper Sandler decreased their price target on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Eight 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. According to MarketBeat.com, EastGroup Properties currently has a consensus 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.