Heitman Real Estate Securities LLC Has $48 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Heitman Real Estate Securities LLC increased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,923 shares of the real estate investment trust’s stock after buying an additional 12,739 shares during the period. EastGroup Properties accounts for approximately 2.6% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its 14th biggest position. Heitman Real Estate Securities LLC’s holdings in EastGroup Properties were worth $47,998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EGP. B. Riley Wealth Advisors Inc. grew its position in shares of EastGroup Properties by 8.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,361 shares of the real estate investment trust’s stock valued at $396,000 after acquiring an additional 177 shares during the period. EverSource Wealth Advisors LLC grew its holdings in EastGroup Properties by 30.2% during the first quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 80 shares during the period. Mendota Financial Group LLC acquired a new position in EastGroup Properties during the second quarter worth approximately $111,000. SG Americas Securities LLC raised its stake in EastGroup Properties by 808.7% in the second quarter. SG Americas Securities LLC now owns 23,789 shares of the real estate investment trust’s stock valued at $4,047,000 after buying an additional 21,171 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of EastGroup Properties by 3.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,072 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 138 shares during the last quarter. 92.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on EGP shares. StockNews.com cut shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $186.00 price target on shares of EastGroup Properties in a research note on Wednesday, October 30th. Morgan Stanley boosted their price objective on EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. Wells Fargo & Company decreased their target price on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Truist Financial dropped their price target on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $191.21.

EastGroup Properties Trading Down 0.8 %

Shares of EastGroup Properties stock opened at $170.75 on Tuesday. The firm’s 50-day moving average price is $177.48 and its two-hundred day moving average price is $177.37. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.24 and a beta of 0.99. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties, Inc. has a 12-month low of $155.23 and a 12-month high of $192.61.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. During the same period last year, the business earned $1.95 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. On average, analysts forecast that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.28%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

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.