Foster & Motley Inc. Sells 397 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Foster & Motley Inc. cut its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 20.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,521 shares of the real estate investment trust’s stock after selling 397 shares during the period. Foster & Motley Inc.’s holdings in EastGroup Properties were worth $279,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EGP. Venturi Wealth Management LLC grew its position in EastGroup Properties by 51.6% in 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 in the last quarter. ZRC Wealth Management LLC bought a new stake in EastGroup Properties in the 4th quarter worth about $37,000. Tucker Asset Management LLC bought a new stake in EastGroup Properties in the 3rd quarter worth about $44,000. Baker Avenue Asset Management LP grew its position in EastGroup Properties by 18.2% in the 3rd quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock worth $78,000 after purchasing an additional 72 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in EastGroup Properties by 68.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 494 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 200 shares in the last quarter. 92.14% of the stock is owned by institutional investors.

Insider Transactions at EastGroup Properties

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

EastGroup Properties Stock Down 4.8 %

Shares of NYSE:EGP opened at $157.75 on Thursday. The firm has a fifty day moving average price of $176.44 and a two-hundred day moving average price of $175.37. 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 one year low of $154.75 and a one year high of $188.85. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 2.63 and a beta of 0.93.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio is currently 110.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays initiated coverage on shares of EastGroup Properties in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $181.00 price objective for the company. BMO Capital Markets began coverage on shares of EastGroup Properties in a research report on Monday. They set an “outperform” rating and a $190.00 target price for the company. Truist Financial upped their price target on shares of EastGroup Properties from $186.00 to $188.00 and gave the company a “hold” rating in a research note on Tuesday, February 20th. Royal Bank of Canada upped their price target on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research note on Friday, February 16th. Finally, KeyCorp upped their price target on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $188.47.

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.