Strs Ohio Decreases Position in EastGroup Properties, Inc. (NYSE:EGP)

Strs Ohio decreased its position in EastGroup Properties, Inc. (NYSE:EGP) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,442 shares of the real estate investment trust’s stock after selling 2,200 shares during the period. Strs Ohio owned about 0.11% of EastGroup Properties worth $9,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EGP. Venturi Wealth Management LLC lifted its position in shares of EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in EastGroup Properties by 0.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,087 shares of the real estate investment trust’s stock worth $1,680,000 after purchasing an additional 67 shares during the period. MML Investors Services LLC increased its stake in shares of EastGroup Properties by 2.4% in the first quarter. MML Investors Services LLC now owns 2,844 shares of the real estate investment trust’s stock worth $470,000 after purchasing an additional 68 shares in the last quarter. CWM LLC raised its position in shares of EastGroup Properties by 5.4% in the third quarter. CWM LLC now owns 1,396 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 71 shares during the period. Finally, Baker Avenue Asset Management LP boosted its holdings in EastGroup Properties by 18.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 72 shares during the period. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Performance

NYSE:EGP opened at $162.02 on Thursday. The business has a 50 day moving average of $178.29 and a 200 day moving average of $175.36. EastGroup Properties, Inc. has a 1-year low of $154.75 and a 1-year high of $188.85. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 2.63 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.28 and a quick ratio of 0.28.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $1.27 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 annualized dividend and a dividend yield of 3.14%. EastGroup Properties’s dividend payout ratio is 115.19%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EGP shares. KeyCorp boosted their target price on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Mizuho reissued a “neutral” rating and set a $185.00 price objective on shares of EastGroup Properties in a report on Tuesday, April 2nd. Truist Financial upped their price target on EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price objective on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. initiated coverage on shares of EastGroup Properties in a report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 price target for the company. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $188.36.

Insider Activity

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

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.