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

Pathstone Holdings LLC decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,707 shares of the real estate investment trust’s stock after selling 895 shares during the period. Pathstone Holdings LLC owned 0.13% of EastGroup Properties worth $10,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crowley Wealth Management Inc. bought a new stake in shares of EastGroup Properties during the 4th quarter valued at about $29,000. Canton Hathaway LLC bought a new stake in shares of EastGroup Properties during the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in EastGroup Properties by 503.3% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 302 shares during the period. Principal Securities Inc. raised its stake 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 buying an additional 84 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in EastGroup Properties during the 4th quarter worth approximately $100,000. Institutional investors own 92.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James reaffirmed a “strong-buy” rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Sunday, April 27th. Robert W. Baird dropped their price target on EastGroup Properties from $194.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Barclays dropped their price target on EastGroup Properties from $193.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Finally, Piper Sandler dropped 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties currently has an average rating of “Moderate Buy” and an average price target of $187.40.

EastGroup Properties Stock Performance

EGP stock opened at $170.63 on Friday. The firm has a market cap of $8.96 billion, a PE ratio of 36.69, a P/E/G ratio of 3.35 and a beta of 1.05. 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 business has a 50 day moving average of $166.73 and a 200-day moving average of $169.47. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.61.

EastGroup Properties (NYSE:EGP) last released its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.01. The company had revenue of $174.45 million during the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. EastGroup Properties’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.98 earnings per share. As a group, sell-side analysts expect that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

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

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.