Stifel Financial Corp Has $2.37 Million Position in EastGroup Properties, Inc. (NYSE:EGP)

Stifel Financial Corp lessened its position in EastGroup Properties, Inc. (NYSE:EGP) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,683 shares of the real estate investment trust’s stock after selling 183 shares during the period. Stifel Financial Corp’s holdings in EastGroup Properties were worth $2,369,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EGP. V Square Quantitative Management LLC grew its holdings in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 61 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of EastGroup Properties by 7.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 90 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of EastGroup Properties by 4.9% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 2,085 shares of the real estate investment trust’s stock worth $389,000 after acquiring an additional 98 shares during the last quarter. UMB Bank n.a. raised its stake in EastGroup Properties by 7.7% in the 3rd quarter. UMB Bank n.a. now owns 1,598 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 114 shares during the period. Finally, Creative Planning lifted its holdings in EastGroup Properties by 4.8% during the 3rd quarter. Creative Planning now owns 2,555 shares of the real estate investment trust’s stock valued at $477,000 after purchasing an additional 117 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Performance

NYSE EGP opened at $161.20 on Thursday. EastGroup Properties, Inc. has a fifty-two week low of $155.23 and a fifty-two week high of $192.61. The stock has a market cap of $7.98 billion, a PE ratio of 33.31, a PEG ratio of 2.22 and a beta of 0.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. The firm’s fifty day moving average price is $173.74 and its two-hundred day moving average price is $177.85.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. During the same period in the previous year, the company earned $1.95 EPS. EastGroup Properties’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities analysts expect that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.47%. The ex-dividend date is Tuesday, December 31st. EastGroup Properties’s payout ratio is presently 115.70%.

Analyst Upgrades and Downgrades

Several analysts recently commented on EGP shares. Morgan Stanley lifted their target price on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a report on Thursday, August 22nd. Truist Financial reduced their price objective on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Evercore ISI upped their price objective on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company lowered their price objective on EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.80.

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.