EastGroup Properties, Inc. $EGP Shares Sold by Aew Capital Management L P

Aew Capital Management L P lessened its stake in EastGroup Properties, Inc. (NYSE:EGP) by 99.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 800 shares of the real estate investment trust’s stock after selling 89,899 shares during the quarter. Aew Capital Management L P’s holdings in EastGroup Properties were worth $135,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB grew its holdings in EastGroup Properties by 13.4% during the 3rd quarter. Nordea Investment Management AB now owns 82,533 shares of the real estate investment trust’s stock worth $13,912,000 after acquiring an additional 9,776 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of EastGroup Properties by 43.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,985,543 shares of the real estate investment trust’s stock worth $336,076,000 after purchasing an additional 602,253 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of EastGroup Properties by 34.1% during the second quarter. Ameritas Investment Partners Inc. now owns 13,699 shares of the real estate investment trust’s stock worth $2,289,000 after purchasing an additional 3,480 shares in the last quarter. Tributary Capital Management LLC purchased a new position in EastGroup Properties in the third quarter valued at $1,294,000. Finally, Amalgamated Bank increased its holdings in EastGroup Properties by 1.3% in the second quarter. Amalgamated Bank now owns 23,972 shares of the real estate investment trust’s stock valued at $4,006,000 after buying an additional 299 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Stock Down 0.4%

Shares of NYSE:EGP opened at $190.58 on Wednesday. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $193.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01. The stock has a market cap of $10.16 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.11 and a beta of 1.11. The firm has a fifty day moving average price of $184.39 and a 200 day moving average price of $176.93.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s payout ratio is 127.31%.

Analyst Upgrades and Downgrades

EGP has been the subject of several analyst reports. Evercore set a $188.00 price objective on EastGroup Properties in a research report on Friday, February 6th. Cantor Fitzgerald raised their target price on EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Barclays raised EastGroup Properties from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 4th. KeyCorp increased their price target on shares of EastGroup Properties from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Finally, Mizuho restated a “neutral” rating and issued a $172.00 target price (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $200.18.

EastGroup Properties Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.