Nisa Investment Advisors LLC Sells 1,070 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Nisa Investment Advisors LLC lowered its position in EastGroup Properties, Inc. (NYSE:EGP) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,851 shares of the real estate investment trust’s stock after selling 1,070 shares during the quarter. Nisa Investment Advisors LLC owned about 0.07% of EastGroup Properties worth $5,662,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its holdings in shares of EastGroup Properties by 2.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 361,853 shares of the real estate investment trust’s stock worth $66,414,000 after purchasing an additional 7,724 shares during the period. Tritonpoint Wealth LLC bought a new position in EastGroup Properties in the fourth quarter valued at $605,000. Asset Management One Co. Ltd. increased its stake in EastGroup Properties by 6.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 93,462 shares of the real estate investment trust’s stock valued at $17,290,000 after acquiring an additional 5,686 shares during the last quarter. Trust Point Inc. bought a new position in EastGroup Properties in the fourth quarter valued at $237,000. Finally, Venturi Wealth Management LLC increased its stake in EastGroup Properties by 51.6% in the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

Insiders Place Their Bets

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, the chief financial officer now owns 102,617 shares of the company’s stock, valued at $18,752,230.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EGP. Barclays began coverage on EastGroup Properties in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 target price on the stock. Mizuho reissued a “neutral” rating and issued a $185.00 target price on shares of EastGroup Properties in a research note on Tuesday, April 2nd. Royal Bank of Canada increased their target price on EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Truist Financial upped their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research report on Tuesday, February 20th. Finally, KeyCorp upped their price target on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $188.23.

EastGroup Properties Stock Performance

Shares of EGP opened at $172.57 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.28 and a quick ratio of 0.28. EastGroup Properties, Inc. has a one year low of $154.75 and a one year high of $188.85. The company has a 50-day simple moving average of $179.56 and a two-hundred day simple moving average of $175.32. The firm has a market capitalization of $8.28 billion, a PE ratio of 39.13, a price-to-earnings-growth ratio of 2.79 and a beta of 0.93.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a $1.27 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.08 annualized dividend and a yield of 2.94%. EastGroup Properties’s dividend payout ratio (DPR) is presently 115.19%.

EastGroup Properties Company 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.