AQR Capital Management LLC Sells 5,179 Shares of EastGroup Properties, Inc. (NYSE:EGP)

AQR Capital Management LLC decreased its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 15.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,579 shares of the real estate investment trust's stock after selling 5,179 shares during the quarter. AQR Capital Management LLC owned 0.06% of EastGroup Properties worth $4,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of EGP. Northern Trust Corp lifted its holdings in shares of 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 acquiring an additional 387,134 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in EastGroup Properties by 7.5% in 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. Tudor Investment Corp ET AL lifted its stake in EastGroup Properties by 44.8% in the fourth quarter. Tudor Investment Corp ET AL now owns 56,939 shares of the real estate investment trust's stock worth $9,138,000 after purchasing an additional 17,629 shares during the last quarter. Earnest Partners LLC boosted its position in EastGroup Properties by 1.5% during the fourth quarter. Earnest Partners LLC now owns 348,138 shares of the real estate investment trust's stock valued at $55,873,000 after buying an additional 5,251 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of EastGroup Properties during the fourth quarter valued at about $1,199,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Price Performance

EGP opened at $167.99 on Friday. 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 has a market cap of $8.82 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. The stock has a fifty day simple moving average of $167.87 and a two-hundred day simple moving average of $169.68. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. The company had revenue of $174.45 million during the quarter, compared to analysts' expectations of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. EastGroup Properties's revenue was up 13.1% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. Research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial dropped their target price on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a report on Monday, May 5th. Evercore ISI increased their price objective on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. Piper Sandler dropped their price target on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Raymond James restated a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.40.

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.

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