EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lessened its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,098 shares of the real estate investment trust’s stock after selling 75 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in EastGroup Properties were worth $658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in EastGroup Properties during the fourth quarter worth $116,756,000. Arizona State Retirement System grew its holdings in EastGroup Properties by 2.0% during the fourth quarter. Arizona State Retirement System now owns 14,142 shares of the real estate investment trust’s stock worth $2,270,000 after acquiring an additional 279 shares during the period. Proficio Capital Partners LLC purchased a new stake in EastGroup Properties during the fourth quarter worth $3,967,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in EastGroup Properties during the fourth quarter worth $8,606,000. Finally, Keybank National Association OH boosted its position in EastGroup Properties by 6.0% during the fourth quarter. Keybank National Association OH now owns 2,564 shares of the real estate investment trust’s stock worth $411,000 after purchasing an additional 144 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on EGP. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research report on Tuesday, January 14th. They set a “buy” rating and a $180.00 target price on the stock. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research report on Tuesday, December 17th. Truist Financial boosted their target price on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. StockNews.com upgraded EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Robert W. Baird boosted their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $191.65.

EastGroup Properties Stock Performance

NYSE EGP opened at $184.51 on Friday. The business’s 50-day moving average price is $171.47 and its 200 day moving average price is $175.31. EastGroup Properties, Inc. has a twelve month low of $155.10 and a twelve month high of $192.61. The company has a market capitalization of $9.60 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46.

EastGroup Properties (NYSE:EGP) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.04%. EastGroup Properties’s dividend payout ratio is presently 120.43%.

EastGroup Properties Profile

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.