Handelsbanken Fonder AB Boosts Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Handelsbanken Fonder AB boosted its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 0.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 187,858 shares of the real estate investment trust’s stock after purchasing an additional 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in EastGroup Properties were worth $34,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in EastGroup Properties during the 2nd quarter worth approximately $27,000. Dark Forest Capital Management LP increased its holdings in EastGroup Properties by 3,380.0% during the 1st quarter. Dark Forest Capital Management LP now owns 174 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 169 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in EastGroup Properties by 51.6% during the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in EastGroup Properties during the 4th quarter worth approximately $37,000. Finally, Group One Trading L.P. purchased a new stake in EastGroup Properties during the 1st quarter worth approximately $41,000. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Price Performance

Shares of EGP opened at $159.27 on Monday. The company has a market cap of $7.65 billion, a P/E ratio of 36.12, a PEG ratio of 2.52 and a beta of 0.93. The stock has a fifty day moving average price of $177.23 and a 200 day moving average price of $175.40. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.28 and a quick ratio of 0.28. EastGroup Properties, Inc. has a 12 month low of $154.75 and a 12 month high of $188.85.

EastGroup Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a yield of 3.19%. EastGroup Properties’s payout ratio is currently 115.19%.

Insider Buying and Selling

In related news, CFO Brent Wood sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, the chief financial officer now directly owns 102,617 shares in the company, valued at approximately $18,752,230.58. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial lifted their price objective on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a report on Tuesday, February 20th. BMO Capital Markets assumed coverage on EastGroup Properties in a report on Monday. They issued an “outperform” rating and a $190.00 price target for the company. JPMorgan Chase & Co. assumed coverage on EastGroup Properties in a report on Thursday, April 11th. They issued a “neutral” rating and a $190.00 price target for the company. KeyCorp boosted their price target on EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Finally, Barclays assumed coverage on EastGroup Properties in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $188.47.

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.