Aew Capital Management L P Decreases Position in EastGroup Properties, Inc. (NYSE:EGP)

Aew Capital Management L P decreased its position in EastGroup Properties, Inc. (NYSE:EGP) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 270,034 shares of the real estate investment trust’s stock after selling 39,220 shares during the period. EastGroup Properties comprises approximately 1.8% of Aew Capital Management L P’s portfolio, making the stock its 20th biggest holding. Aew Capital Management L P owned 0.58% of EastGroup Properties worth $49,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EGP. Venturi Wealth Management LLC lifted its stake in shares of 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 valued at $36,000 after buying an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of 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 valued at $1,680,000 after buying an additional 67 shares in the last quarter. CWM LLC lifted its stake in shares of EastGroup Properties by 5.4% during the 3rd quarter. CWM LLC now owns 1,396 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 71 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of EastGroup Properties by 18.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 72 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in shares of EastGroup Properties by 0.8% during the 3rd quarter. UniSuper Management Pty Ltd now owns 12,500 shares of the real estate investment trust’s stock valued at $2,082,000 after buying an additional 100 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EGP. 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 note on Monday, February 12th. Royal Bank of Canada increased their target price on shares of EastGroup Properties from $180.00 to $190.00 and gave the stock a “sector perform” rating in a research note on Friday, February 16th. BMO Capital Markets started coverage on shares of EastGroup Properties in a research note on Monday. They issued an “outperform” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of EastGroup Properties in a research note on Thursday, April 11th. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, Truist Financial increased their target price on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a research note on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $189.00.

Insider Activity at EastGroup Properties

In related news, CFO Brent Wood sold 2,500 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 102,617 shares of the company’s stock, valued at approximately $18,752,230.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by insiders.

EastGroup Properties Price Performance

Shares of NYSE:EGP traded up $0.18 during trading on Friday, reaching $155.92. The company had a trading volume of 301,419 shares, compared to its average volume of 289,974. The company has a fifty day moving average of $175.34 and a two-hundred day moving average of $175.11. The stock has a market capitalization of $7.49 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.93. EastGroup Properties, Inc. has a 12 month low of $154.75 and a 12 month high of $188.85. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Wednesday, March 27th. 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.