Herold Advisors Inc. trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGP – Get Rating) by 39.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 910 shares of the real estate investment trust's stock after selling 597 shares during the period. Herold Advisors Inc.'s holdings in EastGroup Properties were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Swiss National Bank grew its stake in EastGroup Properties by 8.1% in the 1st quarter. Swiss National Bank now owns 96,187 shares of the real estate investment trust's stock valued at $19,553,000 after acquiring an additional 7,200 shares during the period. Duality Advisers LP acquired a new stake in EastGroup Properties in the 1st quarter valued at $3,294,000. Teacher Retirement System of Texas grew its stake in EastGroup Properties by 8.6% in the 1st quarter. Teacher Retirement System of Texas now owns 8,416 shares of the real estate investment trust's stock valued at $1,711,000 after acquiring an additional 663 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in EastGroup Properties by 6.0% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,674 shares of the real estate investment trust's stock valued at $3,593,000 after acquiring an additional 1,000 shares during the period. Finally, M&T Bank Corp grew its stake in EastGroup Properties by 5.1% in the 1st quarter. M&T Bank Corp now owns 9,193 shares of the real estate investment trust's stock valued at $1,870,000 after acquiring an additional 447 shares during the period. 91.02% of the stock is owned by hedge funds and other institutional investors.
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Shares of NYSE:EGP opened at $171.71 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $7.48 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 3.25 and a beta of 0.87. The firm's 50-day moving average is $159.90 and its two-hundred day moving average is $179.28. EastGroup Properties, Inc. has a 1 year low of $148.33 and a 1 year high of $229.84.
EastGroup Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, June 29th. This represents a $4.40 dividend on an annualized basis and a yield of 2.56%. EastGroup Properties's dividend payout ratio (DPR) is presently 85.60%.Wall Street Analysts Forecast Growth
EGP has been the topic of several recent research reports. Truist Financial lowered their target price on shares of EastGroup Properties from $200.00 to $175.00 and set a "hold" rating on the stock in a research note on Tuesday, May 31st. Wells Fargo & Company lowered their price target on shares of EastGroup Properties from $184.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Monday, June 6th. Evercore ISI set a $185.00 price target on shares of EastGroup Properties in a research report on Monday, June 20th. Mizuho lowered their price target on shares of EastGroup Properties from $215.00 to $180.00 and set a "na" rating on the stock in a research report on Tuesday, May 17th. Finally, Jefferies Financial Group lowered their price target on shares of EastGroup Properties from $200.00 to $144.00 and set a "hold" rating on the stock in a research report on Thursday, June 30th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $191.90.
EastGroup Properties Profile
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EastGroup Properties, Inc (NYSE: EGP), an S&P MidCap 400 company, 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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