Amalgamated Bank Sells 1,300 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Amalgamated Bank lessened its stake in EastGroup Properties, Inc. (NYSE:EGPGet Rating) by 4.5% in the first quarter, HoldingsChannel reports. The firm owned 27,626 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. Amalgamated Bank’s holdings in EastGroup Properties were worth $5,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new stake in EastGroup Properties in the 1st quarter worth approximately $28,000. Group One Trading L.P. bought a new stake in EastGroup Properties in the 1st quarter worth approximately $41,000. DeDora Capital Inc. bought a new stake in EastGroup Properties in the 1st quarter worth approximately $46,000. Kessler Investment Group LLC bought a new stake in EastGroup Properties in the 1st quarter worth approximately $106,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of EastGroup Properties by 22.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 694 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 128 shares during the last quarter. Institutional investors own 89.68% of the company’s stock.

EastGroup Properties Stock Up 0.3 %

Shares of EGP stock opened at $156.97 on Tuesday. The stock has a market cap of $6.84 billion, a P/E ratio of 30.54, a PEG ratio of 2.87 and a beta of 0.87. EastGroup Properties, Inc. has a 52 week low of $148.33 and a 52 week high of $229.84. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.82. The company’s fifty day simple moving average is $166.77 and its two-hundred day simple moving average is $174.08.

EastGroup Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $1.25 dividend. The ex-dividend date is Thursday, September 29th. This represents a $5.00 annualized dividend and a yield of 3.19%. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.10. EastGroup Properties’s payout ratio is presently 85.60%.

Analysts Set New Price Targets

EGP has been the topic of several analyst reports. Truist Financial dropped their price target on shares of EastGroup Properties from $200.00 to $175.00 and set a “hold” rating on the stock in a research note on Tuesday, May 31st. Wells Fargo & Company lifted their price target on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 11th. Evercore ISI dropped their price target on shares of EastGroup Properties from $159.00 to $156.00 and set an “in-line” rating on the stock in a research note on Monday. Morgan Stanley lowered their target price on shares of EastGroup Properties from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, August 1st. Finally, Jefferies Financial Group lowered their target price on shares of EastGroup Properties from $200.00 to $144.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Hold” and a consensus price target of $189.80.

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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