American International Group Inc. Sells 1,375 Shares of EastGroup Properties, Inc. (NYSE:EGP)

American International Group Inc. lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,576 shares of the real estate investment trust’s stock after selling 1,375 shares during the quarter. American International Group Inc. owned about 0.13% of EastGroup Properties worth $11,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in EastGroup Properties in the 4th quarter worth $31,000. Venturi Wealth Management LLC grew its position in shares of EastGroup Properties by 51.6% during the fourth 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 purchased a new position in EastGroup Properties in the 4th quarter worth approximately $37,000. Tucker Asset Management LLC bought a new position in EastGroup Properties in the 3rd quarter worth approximately $44,000. Finally, EverSource Wealth Advisors LLC grew its holdings in EastGroup Properties by 1,938.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 252 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EGP shares. Barclays dropped their target price on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating for the company in a research report on Monday, April 29th. BNP Paribas assumed coverage on EastGroup Properties in a research report on Tuesday, June 4th. They set a “neutral” rating and a $167.00 price objective for the company. Mizuho decreased their target price on EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Royal Bank of Canada dropped their price target on EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a research note on Monday, May 6th. Finally, Truist Financial upped their price objective on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a report on Tuesday, February 20th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $182.41.

EastGroup Properties Price Performance

EGP opened at $166.65 on Tuesday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $163.67 and its 200-day simple moving average is $174.27. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 2.58 and a beta of 0.98. EastGroup Properties, Inc. has a 12-month low of $154.75 and a 12-month high of $188.85.

EastGroup Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.08 annualized dividend and a dividend yield of 3.05%. EastGroup Properties’s dividend payout ratio is currently 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.