11,901 Shares in EastGroup Properties, Inc. $EGP Acquired by Vestcor Inc

Vestcor Inc acquired a new stake in EastGroup Properties, Inc. (NYSE:EGP) in the third quarter, according to its most recent filing with the SEC. The fund acquired 11,901 shares of the real estate investment trust’s stock, valued at approximately $2,014,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EGP. True Wealth Design LLC lifted its position in shares of EastGroup Properties by 159.7% during the third quarter. True Wealth Design LLC now owns 161 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 99 shares in the last quarter. State of Wyoming purchased a new position in shares of EastGroup Properties in the second quarter valued at $27,000. MAI Capital Management grew its position in shares of EastGroup Properties by 83.7% in the third quarter. MAI Capital Management now owns 180 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 82 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of EastGroup Properties in the third quarter valued at $34,000. Finally, Mather Group LLC. purchased a new position in shares of EastGroup Properties in the third quarter valued at $35,000. Institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

EGP has been the subject of several analyst reports. Royal Bank Of Canada raised their target price on EastGroup Properties from $183.00 to $195.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 18th. Piper Sandler upped their price target on EastGroup Properties from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. KeyCorp increased their price target on shares of EastGroup Properties from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Robert W. Baird set a $203.00 price target on shares of EastGroup Properties in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of EastGroup Properties from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.18.

EastGroup Properties Trading Down 0.7%

EastGroup Properties stock opened at $189.76 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.01 and a current ratio of 0.01. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $197.95. The stock has a market cap of $10.12 billion, a P/E ratio of 38.97, a PEG ratio of 3.11 and a beta of 1.10. The firm’s fifty day moving average price is $186.97 and its 200-day moving average price is $179.08.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, March 31st. EastGroup Properties’s payout ratio is presently 127.31%.

EastGroup Properties Company Profile

EastGroup Properties, Inc (NYSE: EGP) is a real estate investment trust specializing in the ownership, development and management of industrial properties. Focused primarily on distribution-oriented facilities, the company’s portfolio consists of modern warehouse and light manufacturing buildings located in high-growth Sunbelt markets. EastGroup concentrates on delivering strategic logistics solutions to customers requiring proximity to transportation hubs and major population centers across the southern United States.

Since its founding in 1969, EastGroup has pursued a disciplined growth strategy that combines property development, targeted acquisitions and hands-on asset management.