Kovitz Investment Group Partners LLC lowered its stake in EastGroup Properties, Inc. (NYSE:EGP – Free Report) by 10.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,500 shares of the real estate investment trust’s stock after selling 400 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in EastGroup Properties were worth $583,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in shares of EastGroup Properties during the first quarter worth approximately $354,000. Group One Trading L.P. purchased a new position in shares of EastGroup Properties in the first quarter worth about $41,000. Private Advisor Group LLC lifted its stake in shares of EastGroup Properties by 10.3% in the first quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 113 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in EastGroup Properties during the first quarter worth about $12,520,000. Finally, Vanguard Group Inc. grew its stake in EastGroup Properties by 2.2% during the 1st 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 acquiring an additional 133,344 shares in the last quarter. 90.69% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at EastGroup Properties
In related news, EVP John F. Coleman sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 90,305 shares of the company’s stock, valued at $15,627,280.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
EastGroup Properties Price Performance
Shares of EGP stock opened at $186.11 on Monday. The business’s fifty day moving average price is $180.69 and its 200 day moving average price is $174.62. The firm has a market capitalization of $8.62 billion, a PE ratio of 42.20, a P/E/G ratio of 2.65 and a beta of 0.94. EastGroup Properties, Inc. has a 1-year low of $152.45 and a 1-year high of $188.85.
EastGroup Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, December 28th. EastGroup Properties’s dividend payout ratio is presently 115.19%.
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.
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