TD Asset Management Inc Sells 3,978 Shares of EastGroup Properties, Inc. $EGP

TD Asset Management Inc decreased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP) by 24.7% during the third quarter, HoldingsChannel.com reports. The fund owned 12,110 shares of the real estate investment trust’s stock after selling 3,978 shares during the period. TD Asset Management Inc’s holdings in EastGroup Properties were worth $2,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in shares of EastGroup Properties by 18,900.0% during the 1st quarter. Jones Financial Companies Lllp now owns 950 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 945 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of EastGroup Properties by 28.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 190,144 shares of the real estate investment trust’s stock worth $33,494,000 after purchasing an additional 41,538 shares during the last quarter. Jane Street Group LLC grew its holdings in EastGroup Properties by 309.8% in the 1st quarter. Jane Street Group LLC now owns 15,878 shares of the real estate investment trust’s stock valued at $2,797,000 after buying an additional 12,003 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of EastGroup Properties by 2.2% during the first quarter. Focus Partners Wealth now owns 6,103 shares of the real estate investment trust’s stock worth $1,075,000 after buying an additional 130 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of EastGroup Properties by 1.6% in the second quarter. State of Michigan Retirement System now owns 12,627 shares of the real estate investment trust’s stock valued at $2,110,000 after acquiring an additional 200 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Stock Down 0.4%

Shares of NYSE:EGP opened at $194.70 on Thursday. The company has a market capitalization of $10.38 billion, a PE ratio of 39.98, a P/E/G ratio of 3.18 and a beta of 1.10. The company’s fifty day moving average is $185.99 and its 200-day moving average is $178.20. 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 52 week low of $137.67 and a 52 week high of $197.95.

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 31st. EastGroup Properties’s dividend payout ratio is presently 127.31%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of EastGroup Properties from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. Morgan Stanley set a $205.00 target price on EastGroup Properties in a research report on Friday, January 16th. Wells Fargo & Company upped their price target on EastGroup Properties from $187.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Mizuho reissued a “neutral” rating and set a $172.00 price objective (down from $180.00) on shares of EastGroup Properties in a report on Thursday, December 4th. Finally, Barclays upgraded EastGroup Properties from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.18.

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.