First Hawaiian Bank Trims Position in EastGroup Properties, Inc. (NYSE:EGP)

First Hawaiian Bank cut its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 1.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,199 shares of the real estate investment trust’s stock after selling 76 shares during the quarter. First Hawaiian Bank’s holdings in EastGroup Properties were worth $755,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in EastGroup Properties by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,652,922 shares of the real estate investment trust’s stock worth $1,221,077,000 after buying an additional 120,746 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of EastGroup Properties by 3.9% during the 3rd quarter. Deutsche Bank AG now owns 1,042,443 shares of the real estate investment trust’s stock valued at $173,598,000 after purchasing an additional 38,766 shares in the last quarter. Boston Partners increased its holdings in shares of EastGroup Properties by 42.7% during the 4th quarter. Boston Partners now owns 756,309 shares of the real estate investment trust’s stock valued at $138,813,000 after purchasing an additional 226,169 shares in the last quarter. Invesco Ltd. increased its holdings in shares of EastGroup Properties by 12.7% during the 3rd quarter. Invesco Ltd. now owns 726,446 shares of the real estate investment trust’s stock valued at $120,975,000 after purchasing an additional 81,636 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of EastGroup Properties by 113.1% during the 3rd quarter. Wellington Management Group LLP now owns 695,206 shares of the real estate investment trust’s stock valued at $115,773,000 after purchasing an additional 368,954 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

EastGroup Properties Stock Down 0.4 %

NYSE EGP opened at $165.96 on Friday. EastGroup Properties, Inc. has a 52 week low of $154.75 and a 52 week high of $188.85. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $163.18 and its 200-day simple moving average is $174.09. The firm has a market cap of $7.99 billion, a PE ratio of 36.00, a P/E/G ratio of 2.60 and a beta of 0.98.

EastGroup Properties Dividend Announcement

The business 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 dividend of $1.27 per share. The ex-dividend date is Friday, June 28th. This represents a $5.08 annualized dividend and a dividend yield of 3.06%. EastGroup Properties’s dividend payout ratio is presently 110.20%.

Wall Street Analyst Weigh In

EGP has been the subject of several recent research reports. Robert W. Baird cut their target price on shares of EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Barclays cut 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 report on Monday, April 29th. Royal Bank of Canada cut their target price on shares of EastGroup Properties from $190.00 to $172.00 and set a “sector perform” rating for the company in a report on Monday, May 6th. Evercore ISI cut their target price 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 cut their target price on shares of EastGroup Properties from $185.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, EastGroup Properties presently has an average rating of “Hold” and a consensus target price of $182.41.

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.