Nisa Investment Advisors LLC Has $4.42 Million Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Nisa Investment Advisors LLC lessened its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,281 shares of the real estate investment trust's stock after selling 1,753 shares during the period. Nisa Investment Advisors LLC owned about 0.06% of EastGroup Properties worth $4,418,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EGP. State Street Corp lifted its position in EastGroup Properties by 2.1% during the third quarter. State Street Corp now owns 2,427,405 shares of the real estate investment trust's stock valued at $456,872,000 after acquiring an additional 49,268 shares during the last quarter. FMR LLC boosted its position in EastGroup Properties by 67.9% during the third quarter. FMR LLC now owns 1,558,083 shares of the real estate investment trust's stock worth $291,081,000 after purchasing an additional 629,827 shares in the last quarter. Geode Capital Management LLC grew its position in shares of EastGroup Properties by 1.2% in the third quarter. Geode Capital Management LLC now owns 899,219 shares of the real estate investment trust's stock valued at $168,032,000 after purchasing an additional 10,435 shares during the period. Charles Schwab Investment Management Inc. raised its stake in EastGroup Properties by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,800 shares of the real estate investment trust's stock valued at $119,527,000 after purchasing an additional 22,328 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in EastGroup Properties by 355.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust's stock worth $73,158,000 after purchasing an additional 305,555 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

EGP traded up $0.12 during trading on Friday, reaching $169.58. The stock had a trading volume of 356,910 shares, compared to its average volume of 317,811. The stock has a 50 day moving average of $165.87 and a two-hundred day moving average of $176.64. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 3.12 and a beta of 1.00. EastGroup Properties, Inc. has a 1-year low of $155.10 and a 1-year high of $192.61. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.57.

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

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $1.40 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.30%. EastGroup Properties's payout ratio is currently 115.70%.

Analyst Ratings Changes

Several research analysts have weighed in on EGP shares. Jefferies Financial Group raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and increased their target price for the stock from $174.00 to $194.00 in a research note on Thursday, January 2nd. StockNews.com downgraded shares of EastGroup Properties from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Wells Fargo & Company cut their target price on shares of EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Morgan Stanley decreased their price target on EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Finally, Raymond James raised shares of EastGroup Properties from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average price target of $190.88.

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.