US Bancorp DE Cuts Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

US Bancorp DE trimmed its stake in shares of EastGroup Properties, Inc. (NYSE:EGPFree Report) by 18.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,885 shares of the real estate investment trust’s stock after selling 1,740 shares during the period. US Bancorp DE’s holdings in EastGroup Properties were worth $1,447,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of EastGroup Properties by 9.3% in the 3rd quarter. Victory Capital Management Inc. now owns 8,188 shares of the real estate investment trust’s stock worth $1,364,000 after buying an additional 698 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of EastGroup Properties by 4.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,225 shares of the real estate investment trust’s stock worth $4,534,000 after buying an additional 1,253 shares during the last quarter. abrdn plc increased its holdings in shares of EastGroup Properties by 2.5% in the 3rd quarter. abrdn plc now owns 9,230 shares of the real estate investment trust’s stock worth $1,537,000 after buying an additional 226 shares during the last quarter. Barclays PLC increased its holdings in shares of EastGroup Properties by 4.3% in the 3rd quarter. Barclays PLC now owns 37,880 shares of the real estate investment trust’s stock worth $6,307,000 after buying an additional 1,574 shares during the last quarter. Finally, Metis Global Partners LLC increased its holdings in shares of EastGroup Properties by 5.2% in the 3rd quarter. Metis Global Partners LLC now owns 2,662 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 132 shares during the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Evercore ISI reduced their target price on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a report on Thursday, April 25th. BMO Capital Markets initiated coverage on shares of EastGroup Properties in a report on Monday, April 22nd. They set an “outperform” rating and a $190.00 price target on the stock. Truist Financial upped their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a report on Tuesday, February 20th. Robert W. Baird cut their price target on shares of EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, KeyCorp cut their price target on shares of EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $183.38.

View Our Latest Analysis on EastGroup Properties

EastGroup Properties Price Performance

EastGroup Properties stock opened at $165.18 on Monday. The stock has a market cap of $7.95 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 2.57 and a beta of 0.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10. EastGroup Properties, Inc. has a 1 year low of $154.75 and a 1 year high of $188.85. The firm has a 50-day moving average of $166.01 and a two-hundred day moving average of $174.71.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $1.27 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.08 annualized dividend and a yield of 3.08%. EastGroup Properties’s dividend payout ratio (DPR) is 110.20%.

EastGroup Properties Company Profile

(Free Report)

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.

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

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