Cbre Investment Management Listed Real Assets LLC Sells 137,510 Shares of EastGroup Properties, Inc. $EGP

Cbre Investment Management Listed Real Assets LLC lessened its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 676,594 shares of the real estate investment trust’s stock after selling 137,510 shares during the quarter. EastGroup Properties makes up approximately 1.6% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 25th biggest position. Cbre Investment Management Listed Real Assets LLC owned 1.27% of EastGroup Properties worth $114,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Canton Hathaway LLC raised its holdings in EastGroup Properties by 31.6% during the 3rd quarter. Canton Hathaway LLC now owns 250 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 60 shares during the last quarter. Cetera Investment Advisers boosted its position in EastGroup Properties by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 3,668 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 68 shares during the period. Virtus Investment Advisers LLC grew its holdings in EastGroup Properties by 7.5% in the 2nd quarter. Virtus Investment Advisers LLC now owns 999 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 70 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of EastGroup Properties by 3.1% in the third quarter. Azzad Asset Management Inc. ADV now owns 2,361 shares of the real estate investment trust’s stock valued at $400,000 after acquiring an additional 71 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of EastGroup Properties by 3.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,489 shares of the real estate investment trust’s stock valued at $421,000 after acquiring an additional 77 shares during the period. Institutional investors own 92.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EGP. Robert W. Baird set a $203.00 price objective on shares of EastGroup Properties in a research note on Wednesday, February 11th. Royal Bank Of Canada boosted their price target on EastGroup Properties from $183.00 to $195.00 and gave the company a “sector perform” rating in a report on Wednesday, February 18th. Truist Financial upped their price target on EastGroup Properties from $203.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Morgan Stanley set a $205.00 price objective on EastGroup Properties in a report on Friday, January 16th. Finally, Cantor Fitzgerald lifted their price objective on EastGroup Properties from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and a consensus price target of $200.18.

EastGroup Properties Trading Down 0.7%

Shares of EGP opened at $189.76 on Thursday. The firm’s 50-day moving average price is $186.97 and its 200-day moving average price is $179.08. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 38.97, a PEG ratio of 3.11 and a beta of 1.10. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.47. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $197.95.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 of this dividend is Tuesday, March 31st. EastGroup Properties’s payout ratio is presently 127.31%.

EastGroup Properties 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.