Foster & Motley Inc. Has $279,000 Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Foster & Motley Inc. decreased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 20.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,521 shares of the real estate investment trust’s stock after selling 397 shares during the quarter. Foster & Motley Inc.’s holdings in EastGroup Properties were worth $279,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its position in shares of EastGroup Properties by 51.6% in 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 increased its position in shares of EastGroup Properties by 0.7% in 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 increased its position in shares of EastGroup Properties by 5.4% in 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 increased its position in shares of EastGroup Properties by 18.2% in 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 grew its holdings in shares of EastGroup Properties by 0.8% in 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 acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

EGP has been the subject of several analyst reports. Barclays initiated coverage on EastGroup Properties in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 price objective for the company. KeyCorp raised their target price 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. Truist Financial raised their target price on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. assumed 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 for the company. Finally, Mizuho reiterated a “neutral” rating and issued a $185.00 target price on shares of EastGroup Properties in a research note on Tuesday, April 2nd. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $188.47.

EastGroup Properties Stock Down 4.8 %

NYSE EGP opened at $157.75 on Thursday. 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, Inc. has a 1-year low of $154.75 and a 1-year high of $188.85. The company has a 50 day moving average of $176.44 and a 200-day moving average of $175.37. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 2.63 and a beta of 0.93.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $1.27 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.22%. EastGroup Properties’s payout ratio is 110.20%.

Insider Activity

In other news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value of $456,850.00. Following the completion of the sale, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

EastGroup Properties Company 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.