Hennion & Walsh Asset Management Inc. Sells 2,575 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Hennion & Walsh Asset Management Inc. lowered its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 60.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700 shares of the real estate investment trust's stock after selling 2,575 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in EastGroup Properties were worth $273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 last quarter. Park Avenue Securities LLC lifted its position in shares of EastGroup Properties by 21.7% in the fourth quarter. Park Avenue Securities LLC now owns 3,038 shares of the real estate investment trust's stock worth $488,000 after buying an additional 541 shares during the last quarter. Elevated Capital Advisors LLC lifted its position in shares of EastGroup Properties by 64.2% in the fourth quarter. Elevated Capital Advisors LLC now owns 2,172 shares of the real estate investment trust's stock worth $349,000 after buying an additional 849 shares during the last quarter. Bar Harbor Wealth Management lifted its position in shares of EastGroup Properties by 0.6% in the fourth quarter. Bar Harbor Wealth Management now owns 23,278 shares of the real estate investment trust's stock worth $3,736,000 after buying an additional 148 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of EastGroup Properties by 20.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock worth $261,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analysts Set New Price Targets

EGP has been the subject of a number of analyst reports. KeyCorp reaffirmed a "sector weight" rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Morgan Stanley decreased their target price on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Wells Fargo & Company decreased their target price on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Jefferies Financial Group upgraded EastGroup Properties from a "hold" rating to a "buy" rating and increased their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. Finally, StockNews.com downgraded EastGroup Properties from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, EastGroup Properties has a consensus rating of "Moderate Buy" and an average price target of $190.88.

EastGroup Properties Price Performance

Shares of EastGroup Properties stock traded down $1.80 during midday trading on Wednesday, hitting $168.00. 525,184 shares of the company were exchanged, compared to its average volume of 412,114. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $8.32 billion, a P/E ratio of 34.71, a PEG ratio of 3.00 and a beta of 1.00. EastGroup Properties, Inc. has a 52 week low of $155.10 and a 52 week high of $192.61. The firm has a 50 day simple moving average of $166.10 and a 200-day simple moving average of $176.76.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.97). The company had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. EastGroup Properties's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.95 EPS. Research analysts forecast that EastGroup Properties, Inc. will post 8.34 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.33%. EastGroup Properties's dividend payout ratio (DPR) is currently 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.