TD Asset Management Inc Trims Holdings in EastGroup Properties, Inc. $EGP

TD Asset Management Inc cut its stake in EastGroup Properties, Inc. (NYSE:EGP) by 24.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,110 shares of the real estate investment trust’s stock after selling 3,978 shares during the period. TD Asset Management Inc’s holdings in EastGroup Properties were worth $2,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. True Wealth Design LLC grew its stake in EastGroup Properties by 159.7% in the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. State of Wyoming acquired a new position in EastGroup Properties in the second quarter worth $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of EastGroup Properties during the third quarter worth $34,000. Mather Group LLC. bought a new position in shares of EastGroup Properties in the 3rd quarter worth about $35,000. Finally, Canton Hathaway LLC boosted its holdings in shares of EastGroup Properties by 31.6% in the 3rd quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 60 shares during the period. Institutional investors own 92.14% of the company’s stock.

EastGroup Properties Stock Down 0.4%

NYSE EGP opened at $194.70 on Thursday. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $197.95. The company has a market capitalization of $10.38 billion, a P/E ratio of 39.98, a PEG ratio of 3.18 and a beta of 1.10. The company’s 50 day simple moving average is $185.99 and its 200 day simple moving average is $178.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.01 and a quick ratio of 0.01.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio is presently 127.31%.

Analyst Ratings Changes

EGP has been the topic of a number of research reports. Royal Bank Of Canada increased their price target on EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 18th. KeyCorp upped their price target on shares of EastGroup Properties from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. UBS Group set a $200.00 price objective on shares of EastGroup Properties in a research report on Thursday, December 4th. Piper Sandler upped their target price on shares of EastGroup Properties from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft cut EastGroup Properties from a “buy” rating to a “hold” rating and set a $185.00 price target on the stock. in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.18.

About EastGroup Properties

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.