American Century Companies Inc. Reduces Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

American Century Companies Inc. trimmed its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 16.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,020 shares of the real estate investment trust's stock after selling 29,664 shares during the quarter. American Century Companies Inc. owned 0.31% of EastGroup Properties worth $24,719,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC bought a new position in EastGroup Properties during the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of EastGroup Properties by 503.3% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 362 shares of the real estate investment trust's stock valued at $58,000 after buying an additional 302 shares during the period. Principal Securities Inc. grew its stake in shares of EastGroup Properties by 18.5% during the fourth quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock valued at $86,000 after buying an additional 84 shares during the last quarter. Quarry LP purchased a new stake in shares of EastGroup Properties in the third quarter worth approximately $102,000. Finally, Versant Capital Management Inc lifted its stake in shares of EastGroup Properties by 18.7% during the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

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EastGroup Properties Stock Down 5.6 %

Shares of EGP stock traded down $9.75 during trading hours on Thursday, reaching $165.90. 593,255 shares of the company's stock were exchanged, compared to its average volume of 348,197. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.63 billion, a PE ratio of 35.68, a PEG ratio of 3.35 and a beta of 0.99. The stock's fifty day moving average price is $177.42 and its two-hundred day moving average price is $174.26.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.99. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, March 31st. EastGroup Properties's dividend payout ratio is presently 120.43%.

Analyst Ratings Changes

A number of research firms have weighed in on EGP. Evercore ISI reiterated an "in-line" rating and issued a $185.00 target price (up previously from $181.00) on shares of EastGroup Properties in a research note on Monday, March 17th. StockNews.com lowered shares of EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday. Truist Financial upped their target price on shares of EastGroup Properties from $168.00 to $180.00 and gave the stock a "hold" rating in a research note on Friday, February 14th. Morgan Stanley decreased their price target on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating for the company in a research note on Monday, December 30th. Finally, Raymond James raised EastGroup Properties from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $190.47.

About EastGroup Properties

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.