Panagora Asset Management Inc. Buys 275 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Panagora Asset Management Inc. boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,475 shares of the real estate investment trust’s stock after buying an additional 275 shares during the period. Panagora Asset Management Inc.’s holdings in EastGroup Properties were worth $638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 66 shares during the period. Baker Avenue Asset Management LP boosted its stake in shares of 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 during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of EastGroup Properties by 0.8% in 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 acquiring an additional 100 shares during the last quarter. Treasurer of the State of North Carolina lifted its position 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 buying an additional 100 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in EastGroup Properties by 5.2% during the third quarter. Metis Global Partners LLC now owns 2,662 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 132 shares in the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EGP has been the topic of a number of analyst reports. Truist Financial lifted their price objective on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. reduced their target price on EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. BMO Capital Markets assumed coverage on EastGroup Properties in a research report on Monday, April 22nd. They issued an “outperform” rating and a $190.00 target price on the stock. Robert W. Baird reduced their target price on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, KeyCorp reduced their target price on EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties has a consensus rating of “Hold” and an average target price of $184.00.

EastGroup Properties Trading Down 2.7 %

EGP opened at $160.87 on Friday. EastGroup Properties, Inc. has a 12 month low of $154.75 and a 12 month high of $188.85. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 2.58 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. The business has a fifty day moving average price of $168.10 and a 200 day moving average price of $174.92.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $1.27 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 annualized dividend and a dividend yield of 3.16%. EastGroup Properties’s dividend payout ratio is currently 110.20%.

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.