Pathstone Holdings LLC Sells 895 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Pathstone Holdings LLC trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,707 shares of the real estate investment trust’s stock after selling 895 shares during the period. Pathstone Holdings LLC’s holdings in EastGroup Properties were worth $10,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of EastGroup Properties by 4.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 7,006 shares of the real estate investment trust’s stock worth $1,130,000 after acquiring an additional 270 shares during the period. Nomura Holdings Inc. bought a new position in shares of EastGroup Properties in the fourth quarter worth $14,834,000. Janus Henderson Group PLC boosted its holdings in shares of EastGroup Properties by 2.2% in the fourth quarter. Janus Henderson Group PLC now owns 396,434 shares of the real estate investment trust’s stock worth $63,657,000 after acquiring an additional 8,462 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of EastGroup Properties in the fourth quarter worth $433,000. Finally, Hudson Bay Capital Management LP boosted its holdings in shares of EastGroup Properties by 97.0% in the fourth quarter. Hudson Bay Capital Management LP now owns 197,562 shares of the real estate investment trust’s stock worth $31,707,000 after acquiring an additional 97,298 shares during the period. 92.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on EGP shares. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a report on Sunday, April 27th. Robert W. Baird cut their price target 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 cut their price target 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. Truist Financial cut their price target on EastGroup Properties from $180.00 to $177.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Evercore ISI increased their price objective 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. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.40.

EastGroup Properties Trading Up 1.5%

NYSE EGP opened at $170.63 on Friday. The stock’s 50-day simple moving average is $166.73 and its two-hundred day simple moving average is $169.47. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 3.35 and a beta of 1.05.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $169.67 million. During the same quarter last year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.28%. EastGroup Properties’s payout ratio is 122.54%.

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.