Trustmark National Bank Trust Department Sells 200 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Trustmark National Bank Trust Department trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,482 shares of the real estate investment trust’s stock after selling 200 shares during the period. Trustmark National Bank Trust Department’s holdings in EastGroup Properties were worth $7,002,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. American International Group Inc. raised its holdings in EastGroup Properties by 0.9% in the 1st quarter. American International Group Inc. now owns 63,125 shares of the real estate investment trust’s stock worth $11,348,000 after purchasing an additional 549 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in EastGroup Properties by 5.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 95,952 shares of the real estate investment trust’s stock worth $17,242,000 after buying an additional 5,342 shares during the period. Price T Rowe Associates Inc. MD boosted its position in EastGroup Properties by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 975,450 shares of the real estate investment trust’s stock valued at $175,359,000 after acquiring an additional 71,614 shares in the last quarter. BROOKFIELD Corp ON grew its holdings in shares of EastGroup Properties by 55.6% during the 1st quarter. BROOKFIELD Corp ON now owns 1,467 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 524 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of EastGroup Properties by 8.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,361 shares of the real estate investment trust’s stock valued at $396,000 after purchasing an additional 177 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

Shares of EGP opened at $171.01 on Thursday. The firm has a market cap of $8.47 billion, a PE ratio of 35.33, a P/E/G ratio of 2.26 and a beta of 1.00. EastGroup Properties, Inc. has a 1-year low of $155.23 and a 1-year high of $192.61. 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 firm has a fifty day simple moving average of $179.76 and a two-hundred day simple moving average of $176.83.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). The firm had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The firm’s 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 EPS. On average, equities analysts anticipate that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

EastGroup Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.27%. This is a positive change from EastGroup Properties’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Monday, September 30th. EastGroup Properties’s payout ratio is 115.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. KeyCorp raised their price objective on EastGroup Properties from $178.00 to $198.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company cut their price objective on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Morgan Stanley boosted their price target on EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $175.00 to $200.00 in a research report on Thursday, September 5th. Finally, Evercore ISI boosted their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $191.21.

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.