EastGroup Properties, Inc. $EGP Stake Trimmed by Enclave Advisors LLC

Enclave Advisors LLC lessened its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 40.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,590 shares of the real estate investment trust’s stock after selling 3,120 shares during the period. Enclave Advisors LLC’s holdings in EastGroup Properties were worth $818,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of EastGroup Properties by 159.7% in the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. State of Wyoming purchased a new stake in shares of EastGroup Properties in the 2nd quarter valued at approximately $27,000. MAI Capital Management lifted its position in shares of EastGroup Properties by 83.7% in the 3rd quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 82 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in EastGroup Properties in the 3rd quarter worth approximately $34,000. Finally, Mather Group LLC. acquired a new position in EastGroup Properties in the 3rd quarter worth approximately $35,000. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 0.3%

EGP stock opened at $183.43 on Friday. The company has a 50 day moving average of $187.65 and a two-hundred day moving average of $180.52. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 37.67, a PEG ratio of 3.00 and a beta of 1.10. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $197.95. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is currently 127.31%.

Analysts Set New Price Targets

Several brokerages have issued reports on EGP. Piper Sandler boosted their target price on shares of EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 target price for the company. in a research report on Monday, January 5th. Truist Financial lifted their price target on EastGroup Properties from $203.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Barclays raised EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada increased their price objective on EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, EastGroup Properties has an average rating of “Moderate Buy” and an average price target of $200.18.

About EastGroup Properties

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.