The SG Americas Securities LLC Sells 845 Shares of EastGroup Properties, Inc. (EGP)

The SG Americas Securities LLC Sells 845 Shares of EastGroup Properties, Inc. (EGP)

SG Americas Securities LLC lowered its stake in EastGroup Properties, Inc. (NYSE:EGP) by 10.6% during the third quarter, Holdings Channel reports. The fund owned 7,091 shares of the company’s stock after selling 845 shares during the period. SG Americas Securities LLC’s holdings in EastGroup Properties were worth $522,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in EastGroup Properties by 0.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,359 shares of the company’s stock valued at $394,000 after buying an additional 21 shares during the last quarter. BKD Wealth Advisors LLC increased its stake in shares of EastGroup Properties by 0.9% in the third quarter. BKD Wealth Advisors LLC now owns 3,605 shares of the company’s stock worth $265,000 after buying an additional 31 shares during the last quarter. US Bancorp DE increased its stake in shares of EastGroup Properties by 1.0% in the second quarter. US Bancorp DE now owns 9,366 shares of the company’s stock worth $645,000 after buying an additional 96 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of EastGroup Properties by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $986,000 after buying an additional 100 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of EastGroup Properties by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,140 shares of the company’s stock worth $525,000 after buying an additional 120 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

EastGroup Properties, Inc. (NYSE:EGP) traded up 0.92% during mid-day trading on Wednesday, reaching $75.33. 159,899 shares of the company’s stock traded hands. The stock has a 50 day moving average of $72.94 and a 200 day moving average of $71.09. EastGroup Properties, Inc. has a 12-month low of $49.31 and a 12-month high of $76.00. The company has a market cap of $2.47 billion, a P/E ratio of 26.60 and a beta of 0.96.

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 16th were issued a $0.62 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $2.48 annualized dividend and a yield of 3.29%. EastGroup Properties’s dividend payout ratio (DPR) is presently 87.94%.

A number of equities research analysts have issued reports on the stock. Citigroup Inc. downgraded shares of EastGroup Properties from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research report on Tuesday, December 13th. Zacks Investment Research downgraded shares of EastGroup Properties from a “buy” rating to a “hold” rating in a research report on Thursday, December 8th. Mizuho assumed coverage on shares of EastGroup Properties in a research report on Wednesday, September 28th. They issued a “buy” rating and a $83.00 price objective for the company. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of EastGroup Properties in a research report on Monday, January 9th. Finally, Cantor Fitzgerald raised shares of EastGroup Properties from a “sell” rating to a “hold” rating and upped their price objective for the stock from $63.00 to $71.00 in a research report on Friday, October 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. EastGroup Properties has a consensus rating of “Hold” and an average price target of $68.55.

In other EastGroup Properties news, Director H C. Bailey, Jr. sold 1,059 shares of EastGroup Properties stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $71.80, for a total value of $76,036.20. Following the completion of the transaction, the director now directly owns 2,900 shares of the company’s stock, valued at $208,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director H C. Bailey, Jr. sold 2,500 shares of EastGroup Properties stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $73.34, for a total transaction of $183,350.00. Following the completion of the sale, the director now owns 4,959 shares of the company’s stock, valued at $363,693.06. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

About EastGroup Properties

EastGroup Properties, Inc is an equity real estate investment trust. The Company is focused on the development, acquisition and operation of industrial properties in various Sunbelt markets across the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina.

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