EastGroup Properties, Inc. (NYSE:EGP) Stock Position Decreased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in EastGroup Properties, Inc. (NYSE:EGP – Get Rating) by 22.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 592,412 shares of the real estate investment trust’s stock after selling 168,675 shares during the period. Dimensional Fund Advisors LP’s holdings in EastGroup Properties were worth $87,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGP. American Century Companies Inc. acquired a new stake in shares of EastGroup Properties in the first quarter worth about $354,000. Group One Trading L.P. acquired a new stake in EastGroup Properties in the 1st quarter worth approximately $41,000. Private Advisor Group LLC boosted its position in EastGroup Properties by 10.3% during the first quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 113 shares during the period. Allianz Asset Management GmbH acquired a new position in EastGroup Properties during the first quarter valued at approximately $12,520,000. Finally, Vanguard Group Inc. raised its position in shares of EastGroup Properties by 2.2% in the first quarter. Vanguard Group Inc. now owns 6,172,033 shares of the real estate investment trust’s stock valued at $1,254,651,000 after purchasing an additional 133,344 shares during the period. Institutional investors own 89.48% of the company’s stock.

EastGroup Properties Stock Down 1.1 %

EGP opened at $161.02 on Wednesday. EastGroup Properties, Inc. has a fifty-two week low of $137.47 and a fifty-two week high of $180.25. The company has a market capitalization of $7.01 billion, a P/E ratio of 41.61, a P/E/G ratio of 3.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.06 and a quick ratio of 0.06. The firm’s fifty day moving average price is $163.80 and its two-hundred day moving average price is $160.60.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were paid a $1.25 dividend. The ex-dividend date was Thursday, March 30th. This represents a $5.00 dividend on an annualized basis and a yield of 3.11%. EastGroup Properties’s payout ratio is currently 129.20%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price on shares of EastGroup Properties in a research note on Wednesday, February 8th. Morgan Stanley boosted their price objective on EastGroup Properties from $150.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 22nd. KeyCorp raised their target price on EastGroup Properties from $170.00 to $174.00 in a report on Friday, April 28th. Mizuho upgraded EastGroup Properties from a “neutral” rating to a “buy” rating and upped their price target for the stock from $180.00 to $185.00 in a report on Monday, March 20th. Finally, StockNews.com assumed coverage on shares of EastGroup Properties in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $170.20.

Insider Buying and Selling

In other EastGroup Properties news, Director Hayden C. Eaves III sold 638 shares of EastGroup Properties stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $163.41, for a total transaction of $104,255.58. Following the sale, the director now directly owns 7,540 shares of the company’s stock, valued at $1,232,111.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

About EastGroup Properties

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust, which engages in the development, acquisition, and operation of industrial properties. The company was founded in 1969 and is headquartered in Ridgeland, MS.