Orion Portfolio Solutions LLC Sells 567 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Orion Portfolio Solutions LLC lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,626 shares of the real estate investment trust’s stock after selling 567 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in EastGroup Properties were worth $1,224,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EGP. Pictet Asset Management Holding SA raised its holdings in EastGroup Properties by 1.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,551 shares of the real estate investment trust’s stock valued at $2,496,000 after buying an additional 155 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of EastGroup Properties by 7.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 64,940 shares of the real estate investment trust’s stock valued at $10,422,000 after acquiring an additional 4,430 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of EastGroup Properties during the fourth quarter valued at about $1,006,000. Norges Bank purchased a new stake in shares of EastGroup Properties during the fourth quarter worth about $100,579,000. Finally, UniSuper Management Pty Ltd grew its stake in shares of EastGroup Properties by 1.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 13,800 shares of the real estate investment trust’s stock worth $2,215,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $160.59 on Friday. The business has a fifty day moving average price of $177.24 and a 200-day moving average price of $174.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $8.35 billion, a PE ratio of 34.54, a PEG ratio of 3.35 and a beta of 0.94. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating 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%. As a group, equities analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $1.40 dividend. The ex-dividend date is Monday, March 31st. This represents a $5.60 annualized dividend and a yield of 3.49%. EastGroup Properties’s dividend payout ratio (DPR) is presently 120.43%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EGP shares. Robert W. Baird upped their price target on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com downgraded EastGroup Properties from a “hold” rating to a “sell” rating in a report on Monday, March 31st. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of EastGroup Properties in a report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Raymond James raised shares of 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 note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $190.47.

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.