EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in EastGroup Properties, Inc. (NYSE:EGPGet Rating) by 115.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,935 shares of the real estate investment trust’s stock after buying an additional 1,573 shares during the quarter. Park Avenue Securities LLC’s holdings in EastGroup Properties were worth $424,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of EastGroup Properties by 12.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,104 shares of the real estate investment trust’s stock valued at $3,046,000 after buying an additional 2,268 shares during the period. Raymond James Trust N.A. raised its holdings in EastGroup Properties by 24.5% during the third quarter. Raymond James Trust N.A. now owns 1,893 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 372 shares during the last quarter. Dupont Capital Management Corp raised its holdings in EastGroup Properties by 371.8% during the third quarter. Dupont Capital Management Corp now owns 8,715 shares of the real estate investment trust’s stock worth $1,258,000 after purchasing an additional 6,868 shares during the last quarter. Comerica Bank raised its holdings in EastGroup Properties by 4.7% during the third quarter. Comerica Bank now owns 28,140 shares of the real estate investment trust’s stock worth $4,059,000 after purchasing an additional 1,256 shares during the last quarter. Finally, Securian Asset Management Inc. raised its holdings in EastGroup Properties by 4.7% during the third quarter. Securian Asset Management Inc. now owns 3,978 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 178 shares during the last quarter. 89.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EGP shares. Morgan Stanley reduced their price objective on EastGroup Properties from $195.00 to $150.00 and set an “equal weight” rating for the company in a report on Monday, October 17th. StockNews.com cut EastGroup Properties from a “hold” rating to a “sell” rating in a report on Friday, October 28th. Wells Fargo & Company raised their price target on EastGroup Properties from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 22nd. Evercore ISI dropped their price target on EastGroup Properties from $156.00 to $148.00 and set an “in-line” rating for the company in a research report on Tuesday, September 27th. Finally, Truist Financial dropped their price target on EastGroup Properties from $175.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, November 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $167.70.

EastGroup Properties Price Performance

Shares of NYSE:EGP opened at $164.97 on Friday. The company has a market cap of $7.19 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.88 and a beta of 0.88. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.85. EastGroup Properties, Inc. has a 52 week low of $137.47 and a 52 week high of $217.46. The business has a fifty day simple moving average of $153.54 and a 200-day simple moving average of $156.88.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, December 29th. EastGroup Properties’s dividend payout ratio is currently 95.24%.

About EastGroup Properties

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust. The firm is engaged in the development, acquisition, and operation of industrial properties in the United States. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina.

See Also

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

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