OneAscent Wealth Management LLC Trims Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

OneAscent Wealth Management LLC trimmed its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 22.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,643 shares of the real estate investment trust’s stock after selling 477 shares during the period. OneAscent Wealth Management LLC’s holdings in EastGroup Properties were worth $264,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in EastGroup Properties during the third quarter worth about $206,000. Cerity Partners LLC grew its stake in shares of EastGroup Properties by 35.6% during the 3rd 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 period. Bank of Montreal Can grew its stake in shares of EastGroup Properties by 11.9% during the 3rd quarter. Bank of Montreal Can now owns 13,061 shares of the real estate investment trust’s stock worth $2,451,000 after purchasing an additional 1,392 shares during the period. FMR LLC increased its holdings in shares of EastGroup Properties by 67.9% during the 3rd quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust’s stock valued at $291,081,000 after purchasing an additional 629,827 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of EastGroup Properties by 36.8% in the 3rd quarter. D.A. Davidson & CO. now owns 1,674 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 450 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EGP has been the topic of several analyst reports. KeyCorp restated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Robert W. Baird lifted their price target on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Truist Financial increased their target price on EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.47.

EastGroup Properties Stock Down 0.3 %

EGP stock opened at $176.19 on Friday. The firm has a market cap of $9.17 billion, a PE ratio of 37.89, a PEG ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The firm’s 50 day moving average price is $176.92 and its 200-day moving average price is $174.59.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, equities research analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

EastGroup Properties Company 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.