Atria Investments Inc Sells 1,591 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Atria Investments Inc decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 11.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,760 shares of the real estate investment trust’s stock after selling 1,591 shares during the period. Atria Investments Inc’s holdings in EastGroup Properties were worth $1,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in shares of EastGroup Properties during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings 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 buying an additional 302 shares during the last quarter. Principal Securities Inc. grew its position 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 buying an additional 84 shares during the period. Quarry LP bought a new stake in shares of EastGroup Properties in the 3rd quarter valued at about $102,000. Finally, Versant Capital Management Inc raised its position in shares of EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 95 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Morgan Stanley lowered 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 reiterated a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price for the company. Finally, StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.65.

EastGroup Properties Trading Down 1.8 %

Shares of NYSE:EGP opened at $181.03 on Tuesday. The stock has a market capitalization of $9.42 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The company’s 50-day moving average price is $171.86 and its two-hundred day moving average price is $175.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. EastGroup Properties, Inc. has a one year low of $155.10 and a one year high of $192.61.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. On average, equities analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $1.40 dividend. The ex-dividend date is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.09%. EastGroup Properties’s dividend payout ratio is currently 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.