UBS Group AG Sells 4,609 Shares of EastGroup Properties, Inc. (NYSE:EGP)

UBS Group AG decreased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP – Get Rating) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,456 shares of the real estate investment trust’s stock after selling 4,609 shares during the quarter. UBS Group AG owned about 0.11% of EastGroup Properties worth $7,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Duff & Phelps Investment Management Co. raised its holdings in EastGroup Properties by 16.8% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 12,525 shares of the real estate investment trust’s stock valued at $1,854,000 after acquiring an additional 1,800 shares during the period. Lockheed Martin Investment Management Co. increased its holdings in shares of EastGroup Properties by 12.2% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 2,762 shares of the real estate investment trust’s stock worth $408,000 after purchasing an additional 300 shares during the period. Donoghue Forlines LLC increased its holdings in shares of EastGroup Properties by 101.9% in the fourth quarter. Donoghue Forlines LLC now owns 2,998 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 1,513 shares during the period. Van ECK Associates Corp increased its holdings in shares of EastGroup Properties by 79.9% in the fourth quarter. Van ECK Associates Corp now owns 4,291 shares of the real estate investment trust’s stock worth $635,000 after purchasing an additional 1,906 shares during the period. Finally, Swiss National Bank increased its holdings in shares of EastGroup Properties by 6.5% in the fourth quarter. Swiss National Bank now owns 105,187 shares of the real estate investment trust’s stock worth $15,574,000 after purchasing an additional 6,400 shares during the period. Institutional investors own 89.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EGP shares. StockNews.com started coverage on shares of EastGroup Properties in a report on Thursday, May 18th. They issued a “hold” rating on the stock. KeyCorp upped their price target on shares of EastGroup Properties from $170.00 to $174.00 in a report on Friday, April 28th. Mizuho raised shares of EastGroup Properties from a “neutral” rating to a “buy” rating and upped their price target for the stock from $180.00 to $185.00 in a report on Monday, March 20th. Robert W. Baird upped their target price on shares of EastGroup Properties from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Finally, Truist Financial cut their target price on shares of EastGroup Properties from $180.00 to $175.00 in a research report on Monday, May 15th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and a consensus price target of $170.20.

EastGroup Properties Stock Performance

NYSE EGP opened at $159.79 on Friday. The company has a 50-day simple moving average of $163.72 and a two-hundred day simple moving average of $160.59. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.88. EastGroup Properties, Inc. has a 12-month low of $137.47 and a 12-month high of $180.25. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 41.29, a PEG ratio of 3.27 and a beta of 0.93.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were given a dividend of $1.25 per share. The ex-dividend date was Thursday, March 30th. This represents a $5.00 annualized dividend and a yield of 3.13%. EastGroup Properties’s payout ratio is 129.20%.

Insider Buying and Selling at EastGroup Properties

In other EastGroup Properties news, Director Hayden C. Eaves III sold 638 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $163.41, for a total transaction of $104,255.58. Following the completion of the sale, the director now directly owns 7,540 shares in the company, valued at $1,232,111.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

About EastGroup Properties

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust, which engages in the development, acquisition, and operation of industrial properties. The company was founded in 1969 and is headquartered in Ridgeland, MS.