Amalgamated Bank Cuts Position in EastGroup Properties, Inc. (NYSE:EGP)

Amalgamated Bank decreased its position in EastGroup Properties, Inc. (NYSE:EGPGet Rating) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,626 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. Amalgamated Bank owned about 0.07% of EastGroup Properties worth $5,616,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of EGP. BlackRock Inc. lifted its position in shares of EastGroup Properties by 22.4% during the fourth quarter. BlackRock Inc. now owns 6,579,597 shares of the real estate investment trust’s stock worth $1,499,159,000 after acquiring an additional 1,203,642 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of EastGroup Properties by 2.2% during the first quarter. Vanguard Group Inc. now owns 6,172,033 shares of the real estate investment trust’s stock worth $1,254,651,000 after acquiring an additional 133,344 shares in the last quarter. State Street Corp lifted its position in shares of EastGroup Properties by 11.5% during the first quarter. State Street Corp now owns 2,412,188 shares of the real estate investment trust’s stock worth $492,949,000 after acquiring an additional 248,538 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of EastGroup Properties by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 820,216 shares of the real estate investment trust’s stock worth $186,886,000 after acquiring an additional 17,169 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of EastGroup Properties by 14.5% during the first quarter. Invesco Ltd. now owns 786,394 shares of the real estate investment trust’s stock worth $159,857,000 after acquiring an additional 99,844 shares in the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their target price on EastGroup Properties from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, August 1st. Truist Financial decreased their price target on shares of EastGroup Properties from $200.00 to $175.00 and set a “hold” rating on the stock in a report on Tuesday, May 31st. Piper Sandler decreased their price target on shares of EastGroup Properties to $200.00 in a report on Monday, July 4th. Wells Fargo & Company upped their price target on shares of EastGroup Properties from $170.00 to $178.00 and gave the stock an “equal weight” rating in a report on Thursday, August 11th. Finally, Jefferies Financial Group decreased their price target on shares of EastGroup Properties from $200.00 to $144.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, EastGroup Properties currently has an average rating of “Hold” and an average target price of $189.80.

EastGroup Properties Stock Up 0.3 %

EGP opened at $156.97 on Tuesday. The stock has a market cap of $6.84 billion, a PE ratio of 30.54, a P/E/G ratio of 2.87 and a beta of 0.87. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.82. EastGroup Properties, Inc. has a 52 week low of $148.33 and a 52 week high of $229.84. The business’s fifty day simple moving average is $166.77 and its 200 day simple moving average is $174.08.

EastGroup Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $1.25 per share. This is a boost from EastGroup Properties’s previous quarterly dividend of $1.10. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Thursday, September 29th. EastGroup Properties’s dividend payout ratio (DPR) is 85.60%.

EastGroup Properties Company Profile

(Get Rating)

EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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.

Featured Stories

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

Receive News & Ratings for EastGroup Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EastGroup Properties and related companies with MarketBeat.com's FREE daily email newsletter.