EastGroup Properties, Inc. $EGP Shares Sold by Aew Capital Management L P

Aew Capital Management L P lessened its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 99.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the real estate investment trust’s stock after selling 89,899 shares during the quarter. Aew Capital Management L P’s holdings in EastGroup Properties were worth $135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EGP. True Wealth Design LLC increased its stake in EastGroup Properties by 159.7% in the 3rd quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 99 shares during the period. State of Wyoming purchased a new stake in shares of EastGroup Properties in the second quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of EastGroup Properties during the third quarter worth about $34,000. Mather Group LLC. purchased a new position in EastGroup Properties during the third quarter worth about $35,000. Finally, Canton Hathaway LLC raised its holdings in EastGroup Properties by 31.6% during the third quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 60 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EGP has been the topic of several recent analyst reports. UBS Group set a $200.00 target price on EastGroup Properties in a research report on Thursday, December 4th. Citigroup upped their price objective on EastGroup Properties from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price objective for the company. in a research report on Monday, January 5th. Piper Sandler boosted their target price on shares of EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Wall Street Zen cut shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $200.18.

EastGroup Properties Trading Down 0.4%

Shares of EGP stock opened at $190.58 on Wednesday. The stock has a market cap of $10.16 billion, a P/E ratio of 39.13, a P/E/G ratio of 3.11 and a beta of 1.11. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.47. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $193.96. The business has a fifty day simple moving average of $184.39 and a 200-day simple moving average of $176.93.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio (DPR) is 127.31%.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.