EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in EastGroup Properties, Inc. (NYSE:EGP) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,911 shares of the real estate investment trust’s stock after selling 5,814 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.16% of EastGroup Properties worth $12,508,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc increased its holdings in EastGroup Properties by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 72 shares in the last quarter. Principal Securities Inc. boosted its position in shares of EastGroup Properties by 18.5% in the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 84 shares during the period. Versant Capital Management Inc grew its stake in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares in the last quarter. waypoint wealth counsel raised its holdings 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 buying an additional 100 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in EastGroup Properties by 1.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust’s stock worth $1,612,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Performance

EGP stock opened at $176.19 on Friday. The stock’s 50 day simple moving average is $176.92 and its 200 day simple moving average is $174.51. EastGroup Properties, Inc. has a 12-month low of $155.10 and a 12-month high of $192.61. The firm has a market cap of $9.17 billion, a P/E ratio of 37.89, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46.

EastGroup Properties (NYSE:EGP) last issued its earnings results 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%. As a group, equities research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $1.40 dividend. The ex-dividend date is Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. EastGroup Properties’s payout ratio is currently 120.43%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EGP. Morgan Stanley lowered their price objective on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Robert W. Baird raised their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a report on Tuesday, December 17th. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and upped their price objective for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Finally, Truist Financial lifted their target price on EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.47.

EastGroup Properties Company 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.