EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lowered its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 6.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,576 shares of the real estate investment trust’s stock after selling 173 shares during the quarter. Coldstream Capital Management Inc.’s holdings in EastGroup Properties were worth $481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gradient Investments LLC purchased a new position in shares of EastGroup Properties during the 2nd quarter worth $32,000. V Square Quantitative Management LLC increased its position in 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 purchasing an additional 61 shares during the last quarter. Quest Partners LLC raised its stake in EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 208 shares during the period. Headlands Technologies LLC acquired a new position in EastGroup Properties in the 2nd quarter valued at about $66,000. Finally, GAMMA Investing LLC boosted its holdings in EastGroup Properties by 90.7% in the 3rd quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 255 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

NYSE:EGP opened at $171.25 on Friday. EastGroup Properties, Inc. has a 52 week low of $155.23 and a 52 week high of $192.61. The company has a fifty day simple moving average of $174.43 and a two-hundred day simple moving average of $177.75. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 2.22 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last released 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). The company had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 earnings per share. As a group, equities analysts anticipate that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.60 annualized dividend and a yield of 3.27%. EastGroup Properties’s dividend payout ratio (DPR) is 115.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EGP shares. Truist Financial reduced their price target on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $185.00 to $200.00 in a research report on Wednesday. StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Morgan Stanley raised their price objective on EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $186.00 target price on shares of EastGroup Properties in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.80.

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.