Xponance Inc. Sells 450 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Xponance Inc. decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,151 shares of the real estate investment trust’s stock after selling 450 shares during the period. Xponance Inc.’s holdings in EastGroup Properties were worth $876,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of EastGroup Properties by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 6,863,129 shares of the real estate investment trust’s stock worth $1,233,785,000 after buying an additional 210,207 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of EastGroup Properties by 7.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 975,450 shares of the real estate investment trust’s stock valued at $175,359,000 after acquiring an additional 71,614 shares during the period. Boston Partners boosted its stake in shares of EastGroup Properties by 26.1% in the 1st quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock valued at $171,399,000 after purchasing an additional 197,427 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of EastGroup Properties by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust’s stock worth $123,848,000 after purchasing an additional 53,083 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of EastGroup Properties by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,323 shares of the real estate investment trust’s stock worth $81,533,000 after purchasing an additional 2,418 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EGP has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and raised their price target for the company from $175.00 to $200.00 in a report on Thursday, September 5th. BNP Paribas started coverage on EastGroup Properties in a research note on Tuesday, June 4th. They issued a “neutral” rating and a $167.00 price objective on the stock. Wedbush raised their target price on EastGroup Properties from $208.00 to $209.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays upped their price target on shares of EastGroup Properties from $175.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.00.

EastGroup Properties Trading Up 0.0 %

Shares of NYSE:EGP opened at $187.68 on Friday. EastGroup Properties, Inc. has a 52-week low of $154.75 and a 52-week high of $192.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.21 and a current ratio of 0.21. The company has a market capitalization of $9.04 billion, a P/E ratio of 40.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.99. The company has a 50-day simple moving average of $185.78 and a 200 day simple moving average of $175.04.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.91). EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The business had revenue of $159.09 million for the quarter, compared to the consensus estimate of $156.70 million. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. Sell-side analysts forecast that EastGroup Properties, Inc. will post 8.32 earnings per share for the current year.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $1.40 dividend. The ex-dividend date is Monday, September 30th. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.27. This represents a $5.60 annualized dividend and a dividend yield of 2.98%. EastGroup Properties’s dividend payout ratio is presently 121.48%.

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.