EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by KBC Group NV

KBC Group NV reduced its stake in shares of EastGroup Properties, Inc. (NYSE:EGPFree Report) by 93.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 802 shares of the real estate investment trust’s stock after selling 11,351 shares during the period. KBC Group NV’s holdings in EastGroup Properties were worth $147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EGP. Victory Capital Management Inc. lifted its stake in shares of EastGroup Properties by 9.3% during the third quarter. Victory Capital Management Inc. now owns 8,188 shares of the real estate investment trust’s stock worth $1,364,000 after buying an additional 698 shares during the period. Van ECK Associates Corp lifted its stake in shares of EastGroup Properties by 174.0% during the third quarter. Van ECK Associates Corp now owns 13,598 shares of the real estate investment trust’s stock worth $2,264,000 after buying an additional 8,635 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of EastGroup Properties by 1.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 61,022 shares of the real estate investment trust’s stock worth $10,162,000 after buying an additional 750 shares during the period. Citigroup Inc. lifted its stake in shares of EastGroup Properties by 45.0% during the third quarter. Citigroup Inc. now owns 21,715 shares of the real estate investment trust’s stock worth $3,616,000 after buying an additional 6,737 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of EastGroup Properties by 3.9% during the third quarter. Deutsche Bank AG now owns 1,042,443 shares of the real estate investment trust’s stock worth $173,598,000 after buying an additional 38,766 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their target price on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research report on Thursday, April 25th. Mizuho decreased their target price on shares of EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. BMO Capital Markets assumed coverage on shares of EastGroup Properties in a research report on Monday, April 22nd. They set an “outperform” rating and a $190.00 target price for the company. Royal Bank of Canada decreased their target price on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research report on Monday, May 6th. Finally, Truist Financial boosted their target price 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. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $182.41.

Read Our Latest Report on EGP

EastGroup Properties Stock Down 0.0 %

EGP stock opened at $166.02 on Tuesday. The stock has a market capitalization of $7.99 billion, a P/E ratio of 36.01, a P/E/G ratio of 2.59 and a beta of 0.98. The firm has a 50-day simple moving average of $164.67 and a 200-day simple moving average of $174.53. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.63. EastGroup Properties, Inc. has a 52 week low of $154.75 and a 52 week high of $188.85.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $1.27 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.08 dividend on an annualized basis and a yield of 3.06%. EastGroup Properties’s payout ratio is 110.20%.

EastGroup Properties Company Profile

(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.

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Institutional Ownership by Quarter for EastGroup Properties (NYSE:EGP)

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