1,567 Shares in EastGroup Properties, Inc. (NYSE:EGP) Bought by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,567 shares of the real estate investment trust’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its stake in EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in EastGroup Properties by 0.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,087 shares of the real estate investment trust’s stock worth $1,680,000 after acquiring an additional 67 shares during the period. CWM LLC lifted its position in EastGroup Properties by 5.4% during the 3rd quarter. CWM LLC now owns 1,396 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 71 shares during the period. Baker Avenue Asset Management LP lifted its position in EastGroup Properties by 18.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 72 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in EastGroup Properties by 0.8% during the 3rd quarter. UniSuper Management Pty Ltd now owns 12,500 shares of the real estate investment trust’s stock worth $2,082,000 after acquiring an additional 100 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at approximately $18,752,230.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

EastGroup Properties Stock Performance

NYSE EGP opened at $155.92 on Friday. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 33.82, a PEG ratio of 2.47 and a beta of 0.93. EastGroup Properties, Inc. has a twelve month low of $154.75 and a twelve month high of $188.85. The company has a current ratio of 0.10, a quick ratio of 0.28 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $174.81 and a 200 day moving average of $175.05.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $1.27 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a yield of 3.26%. EastGroup Properties’s payout ratio is 110.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EGP. Truist Financial lifted their price target on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research report on Tuesday, February 20th. BMO Capital Markets started coverage on EastGroup Properties in a research report on Monday, April 22nd. They set an “outperform” rating and a $190.00 price target for the company. JPMorgan Chase & Co. started coverage on EastGroup Properties in a report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 price objective for the company. Royal Bank of Canada boosted their price objective on EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a report on Friday, February 16th. Finally, Mizuho reissued a “neutral” rating and issued a $185.00 price objective on shares of EastGroup Properties in a report on Tuesday, April 2nd. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties currently has an average rating of “Hold” and an average price target of $189.00.

About EastGroup Properties

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.