EastGroup Properties, Inc. $EGP Stock Position Decreased by Enclave Advisors LLC

Enclave Advisors LLC trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 40.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,590 shares of the real estate investment trust’s stock after selling 3,120 shares during the period. Enclave Advisors LLC’s holdings in EastGroup Properties were worth $818,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in EGP. Jones Financial Companies Lllp raised its position in EastGroup Properties by 18,900.0% during the first quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 945 shares in the last quarter. Goldman Sachs Group Inc. grew its position in EastGroup Properties by 28.0% in the first quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after acquiring an additional 41,538 shares in the last quarter. Jane Street Group LLC grew its position in EastGroup Properties by 309.8% in the first quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock worth $2,797,000 after acquiring an additional 12,003 shares in the last quarter. Focus Partners Wealth increased its stake in shares of EastGroup Properties by 2.2% during the 1st quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after purchasing an additional 130 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.3%

NYSE:EGP opened at $183.43 on Friday. The company’s 50 day moving average is $187.65 and its 200-day moving average is $180.52. 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 12 month low of $137.67 and a 12 month high of $197.95. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 37.67, a P/E/G ratio of 3.00 and a beta of 1.10.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is 127.31%.

Analyst Ratings Changes

EGP has been the subject of several analyst reports. UBS Group set a $200.00 price objective on shares of EastGroup Properties in a research note on Thursday, December 4th. Evercore set a $188.00 target price on shares of EastGroup Properties in a research report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of EastGroup Properties in a report on Monday, December 29th. Truist Financial boosted their price target on EastGroup Properties from $203.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Robert W. Baird set a $203.00 price target on EastGroup Properties in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.18.

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.