Alyeska Investment Group L.P. Trims Stake in EastGroup Properties, Inc. (NYSE:EGP)

Alyeska Investment Group L.P. decreased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 246,608 shares of the real estate investment trust's stock after selling 48,390 shares during the quarter. Alyeska Investment Group L.P. owned 0.50% of EastGroup Properties worth $39,578,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Aptus Capital Advisors LLC grew its position in EastGroup Properties by 22.3% during the 4th quarter. Aptus Capital Advisors LLC now owns 38,532 shares of the real estate investment trust's stock worth $6,184,000 after purchasing an additional 7,030 shares during the period. Mercer Global Advisors Inc. ADV raised its position in EastGroup Properties by 11.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 26,941 shares of the real estate investment trust's stock valued at $4,324,000 after acquiring an additional 2,862 shares in the last quarter. Adelante Capital Management LLC lifted its holdings in EastGroup Properties by 22.3% in the fourth quarter. Adelante Capital Management LLC now owns 215,909 shares of the real estate investment trust's stock valued at $34,651,000 after acquiring an additional 39,374 shares during the period. Northern Trust Corp boosted its position in EastGroup Properties by 91.3% in the 4th quarter. Northern Trust Corp now owns 811,196 shares of the real estate investment trust's stock worth $130,189,000 after purchasing an additional 387,134 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of EastGroup Properties by 7.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 294,289 shares of the real estate investment trust's stock worth $47,230,000 after purchasing an additional 20,450 shares during the period. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Price Performance

EGP stock traded up $1.27 during mid-day trading on Friday, reaching $168.28. The company's stock had a trading volume of 48,255 shares, compared to its average volume of 369,251. 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 company's 50 day moving average is $168.20 and its two-hundred day moving average is $169.76. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.61. The stock has a market cap of $8.84 billion, a PE ratio of 36.19, a P/E/G ratio of 3.35 and a beta of 1.05.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.01. The firm had revenue of $174.45 million for the quarter, compared to the consensus estimate of $169.67 million. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The firm's revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.98 earnings per share. Equities research analysts expect that EastGroup Properties, Inc. will post 8.94 EPS for the current year.

EastGroup Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is presently 122.54%.

Analyst Ratings Changes

Several equities analysts recently issued reports on EGP shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price for the company. Evercore ISI upped their price target on EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Piper Sandler reduced their target price on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada decreased their target price on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $187.40.

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.