Crossmark Global Holdings Inc. Sells 1,465 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Crossmark Global Holdings Inc. reduced its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 29.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,427 shares of the real estate investment trust’s stock after selling 1,465 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in EastGroup Properties were worth $550,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its holdings in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 61 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 valued at $58,000 after buying an additional 302 shares during the period. Versant Capital Management Inc lifted its position in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of EastGroup Properties by 90.7% during the 3rd quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 255 shares during the period. Finally, Quarry LP acquired a new position in shares of EastGroup Properties during the 3rd quarter worth approximately $102,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EGP. Wedbush reaffirmed an “outperform” rating and set a $209.00 price target on shares of EastGroup Properties in a report on Friday, October 25th. Wells Fargo & Company decreased their price target on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Morgan Stanley cut 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, Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a report on Tuesday, January 14th. They set a “buy” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.88.

EastGroup Properties Stock Performance

Shares of EastGroup Properties stock opened at $169.58 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The company has a market cap of $8.40 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 3.12 and a beta of 1.00. The company has a 50 day moving average of $165.87 and a 200-day moving average of $176.64. 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 earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.97). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The business had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. During the same quarter in the previous year, the company earned $1.95 earnings per share. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts forecast that EastGroup Properties, Inc. will post 8.34 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.70%.

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.