Amalgamated Bank Purchases 427 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Amalgamated Bank lifted its stake in shares of EastGroup Properties, Inc. (NYSE:EGPFree Report) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,127 shares of the real estate investment trust’s stock after purchasing an additional 427 shares during the quarter. Amalgamated Bank owned about 0.06% of EastGroup Properties worth $4,851,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of EastGroup Properties by 0.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,087 shares of the real estate investment trust’s stock worth $1,680,000 after purchasing an additional 67 shares in the last quarter. Bollard Group LLC raised its holdings in shares of EastGroup Properties by 16.0% in the 2nd quarter. Bollard Group LLC now owns 494 shares of the real estate investment trust’s stock worth $86,000 after acquiring an additional 68 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of EastGroup Properties by 2.4% in the 1st quarter. MML Investors Services LLC now owns 2,844 shares of the real estate investment trust’s stock worth $470,000 after acquiring an additional 68 shares during the last quarter. CWM LLC raised its holdings in shares of EastGroup Properties by 5.4% in the 3rd quarter. CWM LLC now owns 1,396 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 71 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of EastGroup Properties by 6.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 79 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EGP shares. Raymond James upgraded shares of EastGroup Properties from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Friday, October 27th. Truist Financial increased their price objective on shares of EastGroup Properties from $175.00 to $186.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, Mizuho lowered shares of EastGroup Properties from a “buy” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research note on Tuesday, December 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, EastGroup Properties has a consensus rating of “Hold” and a consensus target price of $187.00.

Get Our Latest Report on EastGroup Properties

Insider Buying and Selling at EastGroup Properties

In other news, EVP John F. Coleman sold 1,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $173.05, for a total transaction of $173,050.00. Following the sale, the executive vice president now owns 90,305 shares in the company, valued at approximately $15,627,280.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

EastGroup Properties Trading Down 1.1 %

EGP opened at $179.17 on Thursday. The company has a 50 day moving average of $180.28 and a 200 day moving average of $174.69. The company has a market cap of $8.30 billion, a PE ratio of 45.36, a price-to-earnings-growth ratio of 2.58 and a beta of 0.94. EastGroup Properties, Inc. has a 12 month low of $152.45 and a 12 month high of $188.85.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, December 28th. EastGroup Properties’s payout ratio is 128.61%.

About EastGroup Properties

(Free Report)

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.

Further Reading

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.