Vestmark Advisory Solutions Inc. Has $823,000 Position in EastGroup Properties, Inc. (NYSE:EGP)

Vestmark Advisory Solutions Inc. lessened its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,484 shares of the real estate investment trust’s stock after selling 64 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in EastGroup Properties were worth $823,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in EastGroup Properties by 6.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,765 shares of the real estate investment trust’s stock valued at $2,958,000 after purchasing an additional 1,035 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of EastGroup Properties during the 3rd quarter worth approximately $5,223,000. Advisor Partners II LLC boosted its stake in EastGroup Properties by 54.7% in the 3rd quarter. Advisor Partners II LLC now owns 2,968 shares of the real estate investment trust’s stock valued at $494,000 after purchasing an additional 1,050 shares during the period. Park Avenue Securities LLC acquired a new position in EastGroup Properties in the 3rd quarter valued at $450,000. Finally, Inspire Investing LLC increased its position in EastGroup Properties by 4.9% during the 3rd quarter. Inspire Investing LLC now owns 7,825 shares of the real estate investment trust’s stock worth $1,303,000 after buying an additional 369 shares during the period. Institutional investors and hedge funds own 92.14% of the company’s stock.

Insider Activity

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $182.74, for a total value 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 $18,752,230.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

EastGroup Properties Price Performance

EGP traded down $0.05 on Monday, reaching $159.81. The company had a trading volume of 8,147 shares, compared to its average volume of 286,773. EastGroup Properties, Inc. has a 52-week low of $154.75 and a 52-week high of $188.85. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 2.78 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. The business has a 50 day simple moving average of $172.39 and a 200 day simple moving average of $174.81.

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 issued a $1.27 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.18%. EastGroup Properties’s payout ratio is 110.20%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EGP shares. JPMorgan Chase & Co. decreased their price target on shares of EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating on the stock in a research note on Thursday. Piper Sandler dropped their target price on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Royal Bank of Canada boosted their price target on EastGroup Properties from $180.00 to $190.00 and gave the stock a “sector perform” rating in a report on Friday, February 16th. Evercore ISI dropped their price objective on shares of EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating for the company in a report on Thursday, April 25th. Finally, Mizuho restated a “neutral” rating and issued a $185.00 price target on shares of EastGroup Properties in a research report on Tuesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $185.13.

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.