EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 50.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,892 shares of the real estate investment trust’s stock after acquiring an additional 1,638 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in EastGroup Properties were worth $914,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EGP. V Square Quantitative Management LLC increased its position in shares of 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 acquiring an additional 61 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in EastGroup Properties by 30.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of EastGroup Properties by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 90 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its stake 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 valued at $389,000 after buying an additional 98 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of EastGroup Properties by 0.3% during the second quarter. Nisa Investment Advisors LLC now owns 31,093 shares of the real estate investment trust’s stock worth $5,328,000 after buying an additional 103 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on EGP shares. Truist Financial reduced their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Evercore ISI upped their price objective on EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. KeyCorp lifted their target price on EastGroup Properties from $178.00 to $198.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Barclays dropped their price target on EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $191.21.

EastGroup Properties Price Performance

NYSE EGP opened at $171.04 on Friday. The company has a 50-day moving average price of $180.77 and a two-hundred day moving average price of $176.29. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. EastGroup Properties, Inc. has a 52 week low of $155.23 and a 52 week high of $192.61.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business had revenue of $162.88 million during the quarter, compared to analyst estimates of $161.52 million. During the same quarter in the prior year, the business earned $1.95 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Analysts forecast that EastGroup Properties, Inc. will post 8.35 EPS for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.40 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.60 annualized dividend and a yield of 3.27%. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.27. EastGroup Properties’s dividend payout ratio is presently 115.70%.

EastGroup Properties 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.