Trustmark National Bank Trust Department Has $7 Million Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Trustmark National Bank Trust Department lowered its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,482 shares of the real estate investment trust’s stock after selling 200 shares during the period. Trustmark National Bank Trust Department owned approximately 0.08% of EastGroup Properties worth $7,002,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $175,359,000 after buying an additional 71,614 shares during the period. Boston Partners increased its stake in EastGroup Properties by 26.1% in the first quarter. Boston Partners now owns 953,736 shares of the real estate investment trust’s stock valued at $171,399,000 after purchasing an additional 197,427 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of EastGroup Properties by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 728,092 shares of the real estate investment trust’s stock valued at $123,848,000 after purchasing an additional 53,083 shares during the period. Bank of New York Mellon Corp boosted its position in shares of EastGroup Properties by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 479,323 shares of the real estate investment trust’s stock worth $81,533,000 after purchasing an additional 2,418 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of EastGroup Properties by 22.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 343,140 shares of the real estate investment trust’s stock valued at $64,105,000 after buying an additional 62,381 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

EastGroup Properties Stock Down 1.8 %

EastGroup Properties stock opened at $171.01 on Thursday. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month 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. The firm has a 50 day moving average price of $179.76 and a 200-day moving average price of $176.83. The company has a market capitalization of $8.47 billion, a P/E ratio of 35.33, a P/E/G ratio of 2.26 and a beta of 1.00.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data 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 business had revenue of $162.88 million during 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%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 earnings per share. As a group, equities analysts predict that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.27. EastGroup Properties’s payout ratio is currently 115.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price target on EastGroup Properties from $158.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Evercore ISI increased 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. Truist Financial decreased their price target on shares of EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Barclays lowered their price objective on shares of EastGroup Properties from $198.00 to $193.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho raised shares of EastGroup Properties from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $175.00 to $200.00 in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, EastGroup Properties currently has an average rating of “Hold” and a consensus price target 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.