Duality Advisers LP Invests $334,000 in EastGroup Properties, Inc. (NYSE:EGP)

Duality Advisers LP bought a new position in EastGroup Properties, Inc. (NYSE:EGP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,819 shares of the real estate investment trust’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also modified their holdings of EGP. Venturi Wealth Management LLC boosted its position in shares of EastGroup Properties by 51.6% in the fourth quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 66 shares during the period. ZRC Wealth Management LLC acquired a new stake in shares of EastGroup Properties in the fourth quarter worth $37,000. Tucker Asset Management LLC acquired a new stake in EastGroup Properties during the third quarter valued at $44,000. Baker Avenue Asset Management LP boosted its position in EastGroup Properties by 18.2% during the third quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 72 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in EastGroup Properties by 68.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 494 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Transactions at EastGroup Properties

In related news, CFO Brent Wood sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the transaction, the chief financial officer now directly owns 102,617 shares in the company, valued at $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

EastGroup Properties Trading Up 0.1 %

EastGroup Properties stock opened at $155.92 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.28 and a current ratio of 0.10. The business’s 50-day simple moving average is $175.34 and its 200-day simple moving average is $175.11. The firm has a market capitalization of $7.51 billion, a PE ratio of 33.82, a PEG ratio of 2.47 and a beta of 0.93. EastGroup Properties, Inc. has a 52 week low of $154.75 and a 52 week high of $188.85.

EastGroup Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.27 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.26%. EastGroup Properties’s payout ratio is presently 110.20%.

Analysts Set New Price Targets

EGP has been the subject of a number of research reports. Barclays initiated coverage on EastGroup Properties in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $181.00 price objective for the company. Evercore ISI reduced their price objective on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a research report on Thursday. JPMorgan Chase & Co. initiated coverage on EastGroup Properties in a research report on Thursday, April 11th. They set a “neutral” rating and a $190.00 price objective for the company. Mizuho reissued a “neutral” rating and set a $185.00 price objective on shares of EastGroup Properties in a research report on Tuesday, April 2nd. Finally, KeyCorp lifted their price objective on EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EastGroup Properties has a consensus rating of “Hold” and a consensus target price of $189.00.

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.