EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Shelton Capital Management

Shelton Capital Management cut its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 4.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,833 shares of the real estate investment trust’s stock after selling 85 shares during the period. Shelton Capital Management’s holdings in EastGroup Properties were worth $294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in EastGroup Properties in the fourth quarter worth approximately $29,000. Canton Hathaway LLC acquired a new position in shares of EastGroup Properties in the 4th quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 302 shares during the period. Principal Securities Inc. lifted its holdings in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 84 shares during the last quarter. Finally, Versant Capital Management Inc boosted 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 valued at $97,000 after purchasing an additional 95 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Evercore ISI reaffirmed an “in-line” rating and issued a $185.00 price objective (up previously from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. KeyCorp reissued a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Piper Sandler set a $175.00 target price on EastGroup Properties and gave the stock a “neutral” rating in a research report on Sunday. Finally, Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and upped their price target for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.00.

EastGroup Properties Price Performance

EGP stock opened at $152.36 on Friday. The stock has a 50-day moving average price of $175.02 and a two-hundred day moving average price of $172.45. EastGroup Properties, Inc. has a 1 year low of $137.67 and a 1 year high of $192.61. The stock has a market cap of $7.93 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. 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 announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 EPS 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%. Equities analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Monday, March 31st. EastGroup Properties’s dividend payout ratio (DPR) is currently 120.43%.

About EastGroup Properties

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.