Intrust Bank NA Acquires New Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Intrust Bank NA purchased a new position in shares of EastGroup Properties, Inc. (NYSE:EGP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,137 shares of the real estate investment trust’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its position in EastGroup Properties by 51.6% in the 4th quarter. Venturi Wealth Management LLC now owns 194 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of EastGroup Properties by 0.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,087 shares of the real estate investment trust’s stock worth $1,680,000 after acquiring an additional 67 shares during the period. Baker Avenue Asset Management LP raised its position in shares of EastGroup Properties by 18.2% in the third quarter. Baker Avenue Asset Management LP now owns 467 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 72 shares during the period. UniSuper Management Pty Ltd boosted its holdings in shares of EastGroup Properties by 0.8% during the third quarter. UniSuper Management Pty Ltd now owns 12,500 shares of the real estate investment trust’s stock worth $2,082,000 after acquiring an additional 100 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in EastGroup Properties by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 19,264 shares of the real estate investment trust’s stock worth $3,208,000 after buying an additional 100 shares during the period. Institutional investors own 92.14% of the company’s stock.

Insider Transactions at EastGroup Properties

In other EastGroup Properties news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total transaction of $456,850.00. Following the completion of the transaction, the chief financial officer now owns 102,617 shares in the company, valued at approximately $18,752,230.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EGP has been the subject of several recent research reports. BMO Capital Markets assumed coverage on EastGroup Properties in a research note on Monday, April 22nd. They issued an “outperform” rating and a $190.00 price target for the company. Piper Sandler dropped their price target on EastGroup Properties from $215.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial boosted their target price on shares of EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. started coverage on shares of EastGroup Properties in a research note on Thursday, April 11th. They set a “neutral” rating and a $190.00 price target for the company. Finally, Barclays reduced their price objective on shares of EastGroup Properties from $181.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $185.56.

EastGroup Properties Price Performance

Shares of EGP opened at $156.86 on Thursday. The firm has a market cap of $7.55 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.47 and a beta of 0.96. EastGroup Properties, Inc. has a 52-week low of $154.75 and a 52-week high of $188.85. The business’s 50 day moving average price is $173.79 and its two-hundred day moving average price is $174.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10.

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $1.27 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $5.08 annualized dividend and a dividend yield of 3.24%. EastGroup Properties’s dividend payout ratio is presently 110.20%.

EastGroup Properties Company 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.