Victory Capital Management Inc. trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGP – Free Report) by 20.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 7,608 shares of the real estate investment trust’s stock after selling 1,977 shares during the period. Victory Capital Management Inc.’s holdings in EastGroup Properties were worth $1,258,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of EGP. American Century Companies Inc. bought a new stake in EastGroup Properties during the 1st quarter valued at approximately $354,000. Group One Trading L.P. bought a new stake in shares of EastGroup Properties in the 1st quarter worth approximately $41,000. Private Advisor Group LLC boosted its position in shares of EastGroup Properties by 10.3% in the 1st quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 113 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of EastGroup Properties in the 1st quarter worth approximately $12,520,000. Finally, Vanguard Group Inc. boosted its position in shares of EastGroup Properties by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 6,172,033 shares of the real estate investment trust’s stock worth $1,254,651,000 after purchasing an additional 133,344 shares in the last quarter. 91.56% of the stock is owned by institutional investors.
EastGroup Properties Price Performance
Shares of EGP opened at $176.47 on Tuesday. The firm has a market cap of $8.01 billion, a PE ratio of 47.06, a P/E/G ratio of 3.76 and a beta of 0.93. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $174.99 and a two-hundred day simple moving average of $168.35. EastGroup Properties, Inc. has a 1-year low of $137.47 and a 1-year high of $188.85.
EastGroup Properties Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $5.00 annualized dividend and a dividend yield of 2.83%. EastGroup Properties’s dividend payout ratio (DPR) is 133.33%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Truist Financial dropped their price target on EastGroup Properties from $180.00 to $175.00 in a research report on Monday, May 15th. BTIG Research upped their price objective on EastGroup Properties from $198.00 to $218.00 in a research report on Wednesday, July 26th. StockNews.com started coverage on EastGroup Properties in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $158.00 price objective on shares of EastGroup Properties in a research report on Tuesday, August 1st. Finally, Piper Sandler upped their price objective on EastGroup Properties from $195.00 to $215.00 in a research report on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.60.
View Our Latest Stock Analysis on EastGroup Properties
Insider Transactions at EastGroup Properties
In other news, SVP Richard Reid Dunbar sold 1,600 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $181.25, for a total value of $290,000.00. Following the completion of the sale, the senior vice president now directly owns 17,288 shares in the company, valued at approximately $3,133,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.
About EastGroup Properties
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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