Trillium Asset Management LLC Sells 1,742 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Trillium Asset Management LLC cut its position in EastGroup Properties, Inc. (NYSE:EGP) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,832 shares of the real estate investment trust’s stock after selling 1,742 shares during the quarter. Trillium Asset Management LLC owned about 0.07% of EastGroup Properties worth $5,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC bought a new position in shares of EastGroup Properties in the fourth quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 302 shares during the period. Principal Securities Inc. boosted its position in EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 84 shares during the period. Quarry LP bought a new position in EastGroup Properties during the third quarter worth $102,000. Finally, Versant Capital Management Inc boosted its position in EastGroup Properties by 18.7% during the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 95 shares during the period. 92.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on EGP. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price objective for the company. StockNews.com raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley reduced their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. KeyCorp reaffirmed a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Finally, Truist Financial boosted their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.47.

EastGroup Properties Trading Down 0.4 %

EGP opened at $178.90 on Thursday. EastGroup Properties, Inc. has a twelve month low of $155.10 and a twelve month high of $192.61. The company has a 50-day simple moving average of $174.73 and a 200 day simple moving average of $174.99. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 38.47, a P/E/G ratio of 3.35 and a beta of 0.99.

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, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.40 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.13%. EastGroup Properties’s dividend payout ratio (DPR) is currently 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.