Raymond James Financial Services Advisors Inc. Lowers Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Raymond James Financial Services Advisors Inc. trimmed its stake in EastGroup Properties, Inc. (NYSE:EGPGet Rating) by 35.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,774 shares of the real estate investment trust’s stock after selling 3,178 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in EastGroup Properties were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of EastGroup Properties by 88.5% in the 2nd quarter. FMR LLC now owns 1,342,138 shares of the real estate investment trust’s stock worth $207,133,000 after purchasing an additional 630,210 shares during the period. Zimmer Partners LP lifted its position in shares of EastGroup Properties by 70.0% in the 2nd quarter. Zimmer Partners LP now owns 850,000 shares of the real estate investment trust’s stock worth $131,181,000 after purchasing an additional 350,000 shares during the period. Millennium Management LLC lifted its position in shares of EastGroup Properties by 253.5% in the 2nd quarter. Millennium Management LLC now owns 454,424 shares of the real estate investment trust’s stock worth $70,131,000 after purchasing an additional 325,858 shares during the period. State Street Corp lifted its position in shares of EastGroup Properties by 11.5% in the 1st quarter. State Street Corp now owns 2,412,188 shares of the real estate investment trust’s stock worth $492,949,000 after purchasing an additional 248,538 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of EastGroup Properties by 7.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,964,584 shares of the real estate investment trust’s stock worth $457,524,000 after purchasing an additional 217,183 shares during the period. 89.48% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

NYSE EGP opened at $164.97 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.03 and a quick ratio of 0.03. The stock’s fifty day moving average price is $153.54 and its 200 day moving average price is $156.87. EastGroup Properties, Inc. has a 1 year low of $137.47 and a 1 year high of $217.46. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.95 and a beta of 0.88.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, December 29th. EastGroup Properties’s payout ratio is 95.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EGP shares. Truist Financial lowered their price target on shares of EastGroup Properties from $175.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, November 29th. Robert W. Baird raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Thursday, January 5th. StockNews.com cut shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Friday, October 28th. Piper Sandler decreased their target price on shares of EastGroup Properties from $200.00 to $187.00 and set an “overweight” rating for the company in a research report on Friday, October 7th. Finally, Wells Fargo & Company increased their target price on shares of EastGroup Properties from $140.00 to $160.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of “Hold” and a consensus price target of $167.70.

EastGroup Properties Company Profile

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust. The firm is engaged in the development, acquisition, and operation of industrial properties in the United States. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina.

See Also

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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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