Nisa Investment Advisors LLC Sells 1,753 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Nisa Investment Advisors LLC decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,281 shares of the real estate investment trust’s stock after selling 1,753 shares during the period. Nisa Investment Advisors LLC’s holdings in EastGroup Properties were worth $4,418,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EGP. Cerity Partners LLC lifted its stake in EastGroup Properties by 35.6% during the third quarter. Cerity Partners LLC now owns 13,624 shares of the real estate investment trust’s stock worth $2,545,000 after purchasing an additional 3,574 shares during the last quarter. Ausbil Investment Management Ltd lifted its stake in EastGroup Properties by 261.6% during the third quarter. Ausbil Investment Management Ltd now owns 6,737 shares of the real estate investment trust’s stock worth $1,259,000 after purchasing an additional 4,874 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of EastGroup Properties by 337.0% in the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust’s stock worth $8,728,000 after buying an additional 37,863 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of EastGroup Properties by 20.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 275 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of EastGroup Properties by 6.1% in the fourth quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust’s stock worth $11,667,000 after buying an additional 4,176 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

EGP has been the topic of a number of research analyst reports. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $185.00 to $200.00 in a report on Wednesday, December 11th. Truist Financial reduced their price target on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and set a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price target on the stock. Finally, Jefferies Financial Group upgraded EastGroup Properties from a “hold” rating to a “buy” rating and boosted their price target for the company from $174.00 to $194.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.88.

EastGroup Properties Trading Up 0.1 %

Shares of EastGroup Properties stock opened at $169.58 on Friday. The firm has a 50-day simple moving average of $165.87 and a two-hundred day simple moving average of $176.64. The company has a market cap of $8.40 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 3.12 and a beta of 1.00. EastGroup Properties, Inc. has a fifty-two week low of $155.10 and a fifty-two week high of $192.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The company had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. During the same quarter last year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts predict that EastGroup Properties, Inc. will post 8.34 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.30%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

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.