Trillium Asset Management LLC Sells 1,742 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Trillium Asset Management LLC lessened its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,832 shares of the real estate investment trust’s stock after selling 1,742 shares during the period. Trillium Asset Management LLC’s holdings in EastGroup Properties were worth $5,751,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Xponance Inc. raised its holdings in EastGroup Properties by 6.9% in the 4th quarter. Xponance Inc. now owns 5,622 shares of the real estate investment trust’s stock valued at $902,000 after buying an additional 365 shares during the last quarter. Boston Partners increased its position in EastGroup Properties by 34.1% during 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. Cibc World Markets Corp increased its position in EastGroup Properties by 11.7% during the 4th quarter. Cibc World Markets Corp now owns 14,365 shares of the real estate investment trust’s stock valued at $2,305,000 after purchasing an additional 1,508 shares during the period. Corient Private Wealth LLC increased its position in EastGroup Properties by 2.6% during the 4th quarter. Corient Private Wealth LLC now owns 12,400 shares of the real estate investment trust’s stock valued at $1,990,000 after purchasing an additional 314 shares during the period. Finally, Natixis Advisors LLC increased its position in EastGroup Properties by 23.5% during the 4th quarter. Natixis Advisors LLC now owns 65,050 shares of the real estate investment trust’s stock valued at $10,440,000 after purchasing an additional 12,371 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on EGP shares. Raymond James raised shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $185.00 to $200.00 in a research report on Wednesday, December 11th. Robert W. Baird increased their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Truist Financial increased their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective for the company. Finally, StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.47.

EastGroup Properties Stock Performance

NYSE EGP opened at $178.90 on Thursday. The company has a fifty day simple moving average of $174.73 and a 200 day simple moving average of $174.99. EastGroup Properties, Inc. has a 12-month low of $155.10 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 0.46. The company has a market cap of $9.31 billion, a P/E ratio of 38.47, a PEG ratio of 3.35 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Sell-side analysts predict 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, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

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.