EastGroup Properties, Inc. $EGP Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd decreased its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 37.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,966 shares of the real estate investment trust’s stock after selling 4,255 shares during the period. Ausbil Investment Management Ltd’s holdings in EastGroup Properties were worth $1,241,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position 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 last quarter. State of Wyoming purchased a new stake in shares of EastGroup Properties during the second quarter worth about $27,000. MAI Capital Management increased its position in shares of EastGroup Properties by 83.7% during the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 82 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of EastGroup Properties in the third quarter worth about $34,000. Finally, Mather Group LLC. acquired a new position in shares of EastGroup Properties in the third quarter worth about $35,000. Institutional investors and hedge funds own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EGP. Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. Robert W. Baird set a $203.00 target price on EastGroup Properties in a research report on Wednesday, February 11th. Morgan Stanley set a $205.00 target price on EastGroup Properties in a research note on Friday, January 16th. KeyCorp raised their price target on shares of EastGroup Properties from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised shares of EastGroup Properties from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.18.

EastGroup Properties Price Performance

Shares of EGP opened at $184.41 on Friday. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $197.95. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of 37.87, a PEG ratio of 2.99 and a beta of 1.10. The stock has a 50 day moving average of $187.74 and a 200-day moving average of $180.40.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 31st. EastGroup Properties’s payout ratio is currently 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.