JLP Asset Management LLC lessened its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 48.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,800 shares of the real estate investment trust's stock after selling 16,400 shares during the period. EastGroup Properties accounts for 3.9% of JLP Asset Management LLC's portfolio, making the stock its 16th largest position. JLP Asset Management LLC's holdings in EastGroup Properties were worth $3,267,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of EastGroup Properties in the 2nd quarter valued at $27,000. Dark Forest Capital Management LP lifted its position in EastGroup Properties by 3,380.0% in the 1st quarter. Dark Forest Capital Management LP now owns 174 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 169 shares in the last quarter. Venturi Wealth Management LLC lifted its position in 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 acquiring an additional 66 shares in the last quarter. ZRC Wealth Management LLC bought a new stake in EastGroup Properties in the 4th quarter valued at $37,000. Finally, Group One Trading L.P. bought a new stake in EastGroup Properties in the 1st quarter valued at $41,000. Institutional investors and hedge funds own 92.14% of the company's stock.
Insider Activity at EastGroup Properties
In other news, CFO Brent Wood sold 2,500 shares of the firm's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, the chief financial officer now owns 102,617 shares of the company's stock, valued at $18,752,230.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by insiders.
EastGroup Properties Price Performance
NYSE:EGP traded up $2.01 on Monday, hitting $176.24. The company had a trading volume of 130,322 shares, compared to its average volume of 275,721. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 2.76 and a beta of 0.93. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $179.67 and a two-hundred day moving average of $175.28. EastGroup Properties, Inc. has a 52 week low of $154.75 and a 52 week high of $188.85.
EastGroup Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.88%. The ex-dividend date is Wednesday, March 27th. EastGroup Properties's payout ratio is 115.19%.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Truist Financial boosted their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a "hold" rating in a research report on Tuesday, February 20th. Mizuho reissued a "neutral" rating and set a $185.00 price target on shares of EastGroup Properties in a research report on Tuesday, April 2nd. Barclays assumed coverage on shares of EastGroup Properties in a report on Wednesday, March 27th. They issued an "equal weight" rating and a $181.00 target price on the stock. Royal Bank of Canada upped their target price on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a "sector perform" rating in a report on Friday, February 16th. Finally, KeyCorp upped their target price on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an "overweight" rating in a report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $188.23.
Check Out Our Latest Report on EastGroup Properties
About EastGroup Properties
(
Free Report)
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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