OneAscent Wealth Management LLC Sells 477 Shares of EastGroup Properties, Inc. (NYSE:EGP)

OneAscent Wealth Management LLC decreased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 22.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in EastGroup Properties during the 4th quarter valued at about $29,000. Canton Hathaway LLC bought a new position in shares of EastGroup Properties during the fourth quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of EastGroup Properties by 503.3% in 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 buying an additional 302 shares during the period. Principal Securities Inc. lifted its stake in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 84 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EGP. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. Truist Financial boosted their price objective 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. Robert W. Baird raised their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, 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. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.47.

EastGroup Properties Stock Down 0.3 %

Shares of EastGroup Properties stock opened at $176.19 on Friday. 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 company has a market cap of $9.17 billion, a P/E ratio of 37.89, a PEG ratio of 3.35 and a beta of 0.99. The firm’s 50 day moving average price is $176.92 and its 200-day moving average price is $174.59. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61.

EastGroup Properties (NYSE:EGP) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate 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, sell-side analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.18%. EastGroup Properties’s payout ratio is 120.43%.

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.