Intrust Bank NA Makes New $209,000 Investment in EastGroup Properties, Inc. (NYSE:EGP)

Intrust Bank NA purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,137 shares of the real estate investment trust’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Venturi Wealth Management LLC raised its stake in EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in 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 during the period. Baker Avenue Asset Management LP raised its position in EastGroup Properties by 18.2% in the third quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 72 shares in the last quarter. UniSuper Management Pty Ltd grew its position in EastGroup Properties by 0.8% during the third quarter. UniSuper Management Pty Ltd now owns 12,500 shares of the real estate investment trust’s stock worth $2,082,000 after buying an additional 100 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in EastGroup Properties by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 19,264 shares of the real estate investment trust’s stock worth $3,208,000 after purchasing an additional 100 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares of the company’s stock, valued at approximately $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EGP. Evercore ISI lowered their price target on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a research report on Thursday, April 25th. Mizuho restated a “neutral” rating and set a $185.00 price objective on shares of EastGroup Properties in a report on Tuesday, April 2nd. BMO Capital Markets began coverage on shares of EastGroup Properties in a research note on Monday, April 22nd. They set an “outperform” rating and a $190.00 price objective for the company. Piper Sandler decreased their price target on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Monday. Finally, Robert W. Baird cut their price target on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $185.56.

EastGroup Properties Stock Up 1.0 %

Shares of EastGroup Properties stock opened at $156.86 on Thursday. The company has a market capitalization of $7.55 billion, a P/E ratio of 34.03, a PEG ratio of 2.47 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.10 and a quick ratio of 0.10. EastGroup Properties, Inc. has a 1-year low of $154.75 and a 1-year high of $188.85. The business’s fifty day moving average price is $173.79 and its two-hundred day moving average price is $174.96.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.24%. EastGroup Properties’s dividend payout ratio (DPR) is 110.20%.

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.