Capital Analysts LLC Trims Position in EastGroup Properties, Inc. (NYSE:EGP)

Capital Analysts LLC lessened its stake in EastGroup Properties, Inc. (NYSE:EGP) by 18.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 459 shares of the real estate investment trust’s stock after selling 107 shares during the period. Capital Analysts LLC’s holdings in EastGroup Properties were worth $84,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in EGP. Pacer Advisors Inc. increased its holdings in shares of EastGroup Properties by 15.0% in the fourth quarter. Pacer Advisors Inc. now owns 61,527 shares of the real estate investment trust’s stock valued at $11,293,000 after purchasing an additional 8,002 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in EastGroup Properties by 2.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 361,853 shares of the real estate investment trust’s stock worth $66,414,000 after buying an additional 7,724 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of EastGroup Properties by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 272,447 shares of the real estate investment trust’s stock worth $45,370,000 after acquiring an additional 9,160 shares during the period. Invesco Ltd. boosted its holdings in shares of EastGroup Properties by 12.7% in the third quarter. Invesco Ltd. now owns 726,446 shares of the real estate investment trust’s stock valued at $120,975,000 after acquiring an additional 81,636 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of EastGroup Properties by 1.3% during the third quarter. Vanguard Group Inc. now owns 6,532,176 shares of the real estate investment trust’s stock worth $1,087,803,000 after acquiring an additional 81,798 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Buying and Selling

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 transaction of $456,850.00. Following the sale, the chief financial officer now directly owns 102,617 shares of the company’s stock, valued at approximately $18,752,230.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EGP. Barclays assumed coverage on shares of EastGroup Properties in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 price objective for the company. Truist Financial lifted their price target on EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Mizuho reiterated a “neutral” rating and issued a $185.00 price objective on shares of EastGroup Properties in a research report on Tuesday, April 2nd. KeyCorp boosted their target price on shares of EastGroup Properties from $188.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. assumed 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 issued a buy rating to the company. Based on data from MarketBeat, EastGroup Properties has a consensus rating of “Hold” and an average target price of $188.36.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $159.22 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.28. The business’s fifty day moving average price is $177.77 and its two-hundred day moving average price is $175.25. The stock has a market cap of $7.64 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.93. EastGroup Properties, Inc. has a one year low of $154.75 and a one year high of $188.85.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio is presently 115.19%.

EastGroup Properties 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.