EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in shares of EastGroup Properties, Inc. (NYSE:EGP) by 43.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,275 shares of the real estate investment trust’s stock after selling 66,461 shares during the period. Thrivent Financial for Lutherans’ holdings in EastGroup Properties were worth $14,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EGP. CIBC Asset Management Inc lifted its holdings in shares of EastGroup Properties by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 72 shares in the last quarter. Principal Securities Inc. raised its position in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 84 shares during the last quarter. Versant Capital Management Inc lifted its stake in EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 95 shares in the last quarter. waypoint wealth counsel grew its holdings in EastGroup Properties by 1.9% during the 4th quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust’s stock valued at $867,000 after buying an additional 100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in EastGroup Properties by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust’s stock worth $1,612,000 after buying an additional 100 shares in the last quarter. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EGP. Evercore ISI reaffirmed an “in-line” rating and set a $185.00 price objective (up previously from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. Truist Financial raised their price target on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a “hold” rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of EastGroup Properties from a “hold” rating to a “buy” rating and boosted their price objective for the company from $174.00 to $194.00 in a research report on Thursday, January 2nd. Raymond James upgraded shares of EastGroup Properties from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $185.00 to $200.00 in a research report on Wednesday, December 11th. Finally, Morgan Stanley cut their price target on EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, December 30th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.47.

EastGroup Properties Stock Down 2.1 %

Shares of NYSE:EGP opened at $173.11 on Friday. The stock has a 50-day simple moving average of $175.44 and a 200-day simple moving average of $174.91. The stock has a market capitalization of $9.01 billion, a P/E ratio of 37.23, a PEG ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Equities analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s payout ratio is 120.43%.

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.