Tudor Investment Corp ET AL Raises Position in EastGroup Properties, Inc. (NYSE:EGP)

Tudor Investment Corp ET AL boosted its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 44.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,939 shares of the real estate investment trust's stock after acquiring an additional 17,629 shares during the period. Tudor Investment Corp ET AL owned 0.12% of EastGroup Properties worth $9,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Cohen & Steers Inc. boosted its position in shares of EastGroup Properties by 141.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,855,920 shares of the real estate investment trust's stock worth $458,347,000 after purchasing an additional 1,673,663 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in EastGroup Properties in the fourth quarter worth about $116,756,000. Norges Bank acquired a new stake in EastGroup Properties in the fourth quarter worth about $100,579,000. Daiwa Securities Group Inc. grew its stake in shares of EastGroup Properties by 210.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust's stock worth $113,584,000 after acquiring an additional 479,873 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of EastGroup Properties by 24.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock valued at $226,888,000 after acquiring an additional 273,217 shares in the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on EGP. Truist Financial raised shares of EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 target price on the stock in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft assumed coverage on EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price for the company. Piper Sandler cut their price objective on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Robert W. Baird lifted their target price on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, Evercore ISI increased their price target on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $187.20.

EastGroup Properties Stock Performance

EGP traded up $2.96 on Friday, reaching $167.04. The stock had a trading volume of 317,596 shares, compared to its average volume of 370,075. The business's 50-day moving average price is $169.44 and its two-hundred day moving average price is $170.21. The company has a market cap of $8.77 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. EastGroup Properties, Inc. has a 12-month low of $137.67 and a 12-month 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.

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

EastGroup Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.35%. EastGroup Properties's dividend payout ratio (DPR) is 122.54%.

EastGroup Properties 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.