Stephens Inc. AR Sells 1,266 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Stephens Inc. AR trimmed its stake in shares of EastGroup Properties, Inc. (NYSE:EGPGet Rating) by 23.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,035 shares of the real estate investment trust’s stock after selling 1,266 shares during the period. Stephens Inc. AR’s holdings in EastGroup Properties were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Aptus Capital Advisors LLC grew its stake in EastGroup Properties by 6.1% during the third quarter. Aptus Capital Advisors LLC now owns 17,411 shares of the real estate investment trust’s stock valued at $2,514,000 after acquiring an additional 1,005 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in EastGroup Properties by 8.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 12,680 shares of the real estate investment trust’s stock valued at $1,830,000 after acquiring an additional 982 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in EastGroup Properties by 6.6% during the third quarter. Crossmark Global Holdings Inc. now owns 4,007 shares of the real estate investment trust’s stock valued at $579,000 after acquiring an additional 247 shares in the last quarter. Brinker Capital Investments LLC grew its stake in EastGroup Properties by 38.1% during the third quarter. Brinker Capital Investments LLC now owns 4,411 shares of the real estate investment trust’s stock valued at $637,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in EastGroup Properties by 13.0% during the third quarter. Great West Life Assurance Co. Can now owns 66,118 shares of the real estate investment trust’s stock valued at $9,536,000 after acquiring an additional 7,630 shares in the last quarter. 89.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EGP shares. BTIG Research cut their target price on shares of EastGroup Properties from $248.00 to $198.00 and set a “buy” rating for the company in a research note on Monday, October 17th. Piper Sandler dropped their price objective on shares of EastGroup Properties from $200.00 to $187.00 and set an “overweight” rating for the company in a research note on Friday, October 7th. Truist Financial dropped their price objective on shares of EastGroup Properties from $175.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, November 29th. Evercore ISI dropped their price objective on shares of EastGroup Properties from $156.00 to $148.00 and set an “in-line” rating for the company in a research note on Tuesday, September 27th. Finally, Wells Fargo & Company lifted their price objective on shares of EastGroup Properties from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $167.70.

EastGroup Properties Price Performance

EastGroup Properties stock opened at $164.97 on Monday. The firm has a 50-day moving average price of $153.54 and a 200-day moving average price of $156.87. The firm has a market capitalization of $7.19 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.88. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.85. EastGroup Properties, Inc. has a 12-month low of $137.47 and a 12-month high of $217.46.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were issued a $1.25 dividend. The ex-dividend date was Thursday, December 29th. This represents a $5.00 annualized dividend and a dividend yield of 3.03%. EastGroup Properties’s dividend payout ratio (DPR) is presently 95.24%.

EastGroup Properties Company Profile

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust. The firm is engaged in the development, acquisition, and operation of industrial properties in the United States. Its portfolio consists of distribution facilities in Florida, California, Texas, Arizona, and North Carolina.

Further Reading

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

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