EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Aew Capital Management L P

Aew Capital Management L P trimmed its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 12.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 270,034 shares of the real estate investment trust’s stock after selling 39,220 shares during the period. EastGroup Properties makes up approximately 1.8% of Aew Capital Management L P’s investment portfolio, making the stock its 20th largest position. Aew Capital Management L P’s holdings in EastGroup Properties were worth $49,562,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of EastGroup Properties by 113.1% in the third quarter. Wellington Management Group LLP now owns 695,206 shares of the real estate investment trust’s stock valued at $115,773,000 after buying an additional 368,954 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in EastGroup Properties in the third quarter worth $58,974,000. Daiwa Securities Group Inc. raised its holdings in shares of EastGroup Properties by 1,265.5% during the third quarter. Daiwa Securities Group Inc. now owns 241,716 shares of the real estate investment trust’s stock worth $40,253,000 after acquiring an additional 224,014 shares during the period. American Century Companies Inc. raised its holdings in shares of EastGroup Properties by 1,206.6% during the third quarter. American Century Companies Inc. now owns 160,109 shares of the real estate investment trust’s stock worth $26,663,000 after acquiring an additional 147,855 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of EastGroup Properties by 1.3% during the third quarter. Vanguard Group Inc. now owns 6,532,176 shares of the real estate investment trust’s stock worth $1,087,803,000 after acquiring an additional 81,798 shares during the period. 92.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Brent Wood sold 2,500 shares of the business’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 sale, the chief financial officer now owns 102,617 shares in the company, valued at approximately $18,752,230.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EGP has been the subject of a number of analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $185.00 target price on shares of EastGroup Properties in a research report on Tuesday, April 2nd. 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 target price for the company. KeyCorp lifted their price objective on shares of EastGroup Properties from $188.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Evercore ISI decreased 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 research report on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of EastGroup Properties from $180.00 to $190.00 and gave the company a “sector perform” rating in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $189.00.

EastGroup Properties Price Performance

Shares of NYSE:EGP traded up $0.18 during midday trading on Friday, hitting $155.92. The stock had a trading volume of 301,419 shares, compared to its average volume of 289,974. The company’s 50-day moving average price is $175.34 and its 200-day moving average price is $175.11. The company has a market capitalization of $7.49 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.93. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.64. EastGroup Properties, Inc. has a fifty-two week low of $154.75 and a fifty-two week high of $188.85.

EastGroup Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio is 110.20%.

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.