Nisa Investment Advisors LLC Has $5.33 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Nisa Investment Advisors LLC increased its stake in EastGroup Properties, Inc. (NYSE:EGP) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,093 shares of the real estate investment trust’s stock after buying an additional 103 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of EastGroup Properties worth $5,328,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in EastGroup Properties by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 6,863,129 shares of the real estate investment trust’s stock valued at $1,233,785,000 after acquiring an additional 210,207 shares during the period. Price T Rowe Associates Inc. MD raised its stake in EastGroup Properties by 7.9% in the 1st 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 raised its stake in 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 acquiring an additional 197,427 shares during the period. Dimensional Fund Advisors LP raised its stake in EastGroup Properties by 4.6% in the 4th 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 during the period. Finally, Eagle Asset Management Inc. raised its stake in EastGroup Properties by 29.3% in the 4th quarter. Eagle Asset Management Inc. now owns 646,613 shares of the real estate investment trust’s stock valued at $118,679,000 after acquiring an additional 146,381 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. KeyCorp increased their price target on EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Truist Financial increased their price target on EastGroup Properties from $176.00 to $190.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Robert W. Baird dropped their price target on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets started coverage on EastGroup Properties in a research report on Monday, April 22nd. They set an “outperform” rating and a $190.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on EastGroup Properties from $172.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, EastGroup Properties currently has a consensus rating of “Hold” and a consensus price target of $186.85.

EastGroup Properties Stock Up 1.1 %

Shares of NYSE EGP opened at $183.00 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.21 and a current ratio of 0.21. EastGroup Properties, Inc. has a 52 week low of $154.75 and a 52 week high of $192.61. The stock has a market capitalization of $8.81 billion, a P/E ratio of 39.70, a PEG ratio of 2.93 and a beta of 0.98. The stock’s fifty day moving average is $177.79 and its 200 day moving average is $173.84.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.91). EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The company had revenue of $159.09 million during the quarter, compared to the consensus estimate of $156.70 million. During the same quarter in the previous year, the business posted $1.89 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts forecast that EastGroup Properties, Inc. will post 8.3 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.78%. The ex-dividend date was Friday, June 28th. EastGroup Properties’s dividend payout ratio (DPR) is presently 110.20%.

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.