EastGroup Properties, Inc. (NYSE:EGP) Position Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGPGet Rating) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,002 shares of the real estate investment trust’s stock after selling 2,081 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of EastGroup Properties worth $13,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. CWM LLC increased its position in EastGroup Properties by 3.7% during the first quarter. CWM LLC now owns 1,336 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 48 shares during the last quarter. Lazard Asset Management LLC increased its position in EastGroup Properties by 13.9% during the fourth quarter. Lazard Asset Management LLC now owns 468 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 57 shares during the last quarter. Commonwealth Equity Services LLC increased its position in EastGroup Properties by 3.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,897 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 60 shares during the last quarter. National Asset Management Inc. increased its position in EastGroup Properties by 7.2% during the first quarter. National Asset Management Inc. now owns 1,040 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 70 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in EastGroup Properties by 1.1% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 6,745 shares of the real estate investment trust’s stock worth $1,537,000 after buying an additional 71 shares during the last quarter. 91.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on EGP shares. Wells Fargo & Company lowered their target price on shares of EastGroup Properties from $184.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Monday, June 6th. Truist Financial lowered their price target on EastGroup Properties from $200.00 to $175.00 and set a “hold” rating on the stock in a research report on Tuesday, May 31st. Piper Sandler lowered their price target on EastGroup Properties to $200.00 in a research report on Monday, July 4th. Evercore ISI set a $185.00 price target on EastGroup Properties in a research report on Monday, June 20th. Finally, Jefferies Financial Group lowered their price target on EastGroup Properties from $200.00 to $144.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $191.90.

EastGroup Properties Stock Up 0.1 %

EGP stock opened at $170.03 on Friday. EastGroup Properties, Inc. has a twelve month low of $148.33 and a twelve month high of $229.84. The company has a market cap of $7.41 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 3.26 and a beta of 0.87. The business’s 50-day simple moving average is $159.76 and its 200 day simple moving average is $179.79. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.82.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Wednesday, June 29th. EastGroup Properties’s dividend payout ratio is 85.60%.

EastGroup Properties Company Profile

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EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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.

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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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