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

Atria Investments Inc lessened its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 11.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in EGP. CIBC Asset Management Inc increased its stake in shares of EastGroup Properties by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock valued at $234,000 after buying an additional 72 shares during the period. Principal Securities Inc. increased its position in EastGroup Properties by 18.5% in 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. Wealth Enhancement Advisory Services LLC raised its holdings in EastGroup Properties by 7.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc raised its holdings in 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 purchasing an additional 95 shares during the last quarter. Finally, waypoint wealth counsel lifted its position in EastGroup Properties by 1.9% during the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after purchasing an additional 100 shares during the period. Institutional investors own 92.14% of the company's stock.

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EastGroup Properties Stock Down 2.6 %

EGP stock traded down $4.64 during mid-day trading on Thursday, hitting $176.41. 469,112 shares of the company were exchanged, compared to its average volume of 325,498. The firm has a market cap of $9.18 billion, a P/E ratio of 37.94, a P/E/G ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The firm's 50 day simple moving average is $172.72 and its 200 day simple moving average is $175.22.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data 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%. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.17%. EastGroup Properties's dividend payout ratio is currently 120.43%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EGP shares. Raymond James upgraded shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Robert W. Baird raised their price target on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. KeyCorp reiterated a "sector weight" rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price on the stock. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $191.65.

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.