Quadrant Capital Group LLC lowered its stake in EastGroup Properties, Inc. (NYSE:EGP – Get Rating) by 23.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 515 shares of the real estate investment trust’s stock after selling 160 shares during the quarter. Quadrant Capital Group LLC’s holdings in EastGroup Properties were worth $76,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Group One Trading L.P. purchased a new stake in EastGroup Properties in the 1st quarter worth $41,000. Itau Unibanco Holding S.A. purchased a new stake in EastGroup Properties in the 4th quarter worth $41,000. Belpointe Asset Management LLC purchased a new stake in EastGroup Properties in the 3rd quarter worth $108,000. Private Advisor Group LLC lifted its stake in EastGroup Properties by 10.3% in the 1st quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 113 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in EastGroup Properties by 112.8% in the 3rd quarter. Lazard Asset Management LLC now owns 1,217 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 645 shares in the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.
EastGroup Properties Price Performance
Shares of EGP stock opened at $166.41 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.06 and a quick ratio of 0.06. The company’s 50-day simple moving average is $164.68 and its two-hundred day simple moving average is $161.05. EastGroup Properties, Inc. has a one year low of $137.47 and a one year high of $180.25. The company has a market capitalization of $7.25 billion, a P/E ratio of 43.00, a P/E/G ratio of 3.42 and a beta of 0.93.
EastGroup Properties Dividend Announcement
Insider Activity
In other news, Director Hayden C. Eaves III sold 638 shares of the stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $163.41, for a total transaction of $104,255.58. Following the transaction, the director now directly owns 7,540 shares in the company, valued at $1,232,111.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.50% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on EGP. Morgan Stanley upped their target price on shares of EastGroup Properties from $150.00 to $158.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 22nd. Truist Financial decreased their target price on shares of EastGroup Properties from $180.00 to $175.00 in a research report on Monday, May 15th. KeyCorp upped their target price on shares of EastGroup Properties from $170.00 to $174.00 in a research report on Friday, April 28th. Robert W. Baird increased their price objective on shares of EastGroup Properties from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Finally, Mizuho raised shares of EastGroup Properties from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $185.00 in a research report on Monday, March 20th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, EastGroup Properties has an average rating of “Hold” and a consensus target price of $170.20.
EastGroup Properties Company Profile
EastGroup Properties, Inc is an internally-managed equity real estate investment trust, which engages in the development, acquisition, and operation of industrial properties. The company was founded in 1969 and is headquartered in Ridgeland, MS.
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