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

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 6.9% in the fourth quarter, HoldingsChannel reports. The firm 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’s holdings in EastGroup Properties were worth $12,508,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crowley Wealth Management Inc. bought a new position in shares of EastGroup Properties in the fourth quarter worth $29,000. Canton Hathaway LLC acquired a new stake in EastGroup Properties in the fourth quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. grew its position in EastGroup Properties by 503.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 302 shares in the last quarter. Principal Securities Inc. increased its stake in EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 84 shares during the period. Finally, Quarry LP acquired a new position in EastGroup Properties during the 3rd quarter valued at about $102,000. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Trading Down 0.3 %

EastGroup Properties stock opened at $176.19 on Friday. 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. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 37.89, a P/E/G ratio of 3.35 and a beta of 0.99. The company has a 50 day moving average price of $176.92 and a 200 day moving average price of $174.51.

EastGroup Properties (NYSE:EGP) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. Research analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $1.40 per share. The ex-dividend date is Monday, March 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.18%. EastGroup Properties’s dividend payout ratio is 120.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EGP. Evercore ISI reiterated an “in-line” rating and issued a $185.00 price objective (up from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Morgan Stanley decreased their price target on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, December 30th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Robert W. Baird raised their target price on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. 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 report on Friday, February 14th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $190.47.

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.