EastGroup Properties, Inc. (NYSE:EGP) Holdings Trimmed by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 7.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,184 shares of the real estate investment trust’s stock after selling 177 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in EastGroup Properties were worth $404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EGP. Vanguard Group Inc. raised its holdings in shares of EastGroup Properties by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 6,652,922 shares of the real estate investment trust’s stock worth $1,221,077,000 after acquiring an additional 120,746 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of EastGroup Properties by 3.9% during the 3rd quarter. Deutsche Bank AG now owns 1,042,443 shares of the real estate investment trust’s stock valued at $173,598,000 after buying an additional 38,766 shares during the last quarter. Boston Partners grew its stake in shares of EastGroup Properties by 42.7% in the 4th quarter. Boston Partners now owns 756,309 shares of the real estate investment trust’s stock valued at $138,813,000 after buying an additional 226,169 shares in the last quarter. Wellington Management Group LLP increased its holdings in EastGroup Properties by 113.1% in the third quarter. Wellington Management Group LLP now owns 695,206 shares of the real estate investment trust’s stock worth $115,773,000 after buying an additional 368,954 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in EastGroup Properties by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 666,304 shares of the real estate investment trust’s stock valued at $122,295,000 after acquiring an additional 29,479 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. BNP Paribas initiated coverage on shares of EastGroup Properties in a research note on Tuesday, June 4th. They set a “neutral” rating and a $167.00 price target on the stock. Royal Bank of Canada cut their target price on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating on the stock in a report on Monday, May 6th. Evercore ISI decreased their price target on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research note on Thursday, April 25th. Mizuho cut their price objective on EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Finally, BMO Capital Markets initiated coverage on EastGroup Properties in a report on Monday, April 22nd. They set an “outperform” rating and a $190.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $182.41.

EastGroup Properties Price Performance

Shares of NYSE EGP opened at $167.95 on Tuesday. The company has a market capitalization of $8.09 billion, a PE ratio of 36.43, a PEG ratio of 2.58 and a beta of 0.98. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $163.09 and its 200-day moving average price is $173.99. EastGroup Properties, Inc. has a twelve month low of $154.75 and a twelve month high of $188.85.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.08 annualized dividend and a dividend yield of 3.02%. EastGroup Properties’s payout ratio is currently 110.20%.

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.