M&T Bank Corp Sells 534 Shares of EastGroup Properties, Inc. (NYSE:EGP)

M&T Bank Corp lowered its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 4.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,880 shares of the real estate investment trust’s stock after selling 534 shares during the quarter. M&T Bank Corp’s holdings in EastGroup Properties were worth $2,067,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. CIBC Asset Management Inc lifted its stake in EastGroup Properties by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock worth $234,000 after acquiring an additional 72 shares during the period. Principal Securities Inc. raised its holdings in EastGroup Properties by 18.5% in the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in EastGroup Properties by 7.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,350 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 90 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 95 shares during the period. Finally, waypoint wealth counsel boosted its stake in shares of EastGroup Properties by 1.9% during the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after purchasing an additional 100 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on EGP. Robert W. Baird increased their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on EastGroup Properties in a research report on Tuesday, January 14th. They issued a “buy” rating and a $180.00 target price for the company. Jefferies Financial Group upgraded EastGroup Properties from a “hold” rating to a “buy” rating and raised their target price for the company from $174.00 to $194.00 in a research note on Thursday, January 2nd. StockNews.com raised EastGroup Properties from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Truist Financial increased their price objective on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a report on Friday, February 14th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, EastGroup Properties has an average rating of “Moderate Buy” and an average price target of $191.65.

EastGroup Properties Stock Down 0.6 %

Shares of EastGroup Properties stock opened at $184.51 on Monday. The company has a 50-day simple moving average of $171.47 and a two-hundred day simple moving average of $175.25. The stock has a market capitalization of $9.60 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 52-week low of $155.10 and a 52-week high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.

EastGroup Properties (NYSE:EGP) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. On average, analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.04%. EastGroup Properties’s payout ratio is currently 120.43%.

EastGroup Properties 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.