Jane Street Group LLC Decreases Position in EastGroup Properties, Inc. (NYSE:EGP)

Jane Street Group LLC lessened its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 86.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,875 shares of the real estate investment trust's stock after selling 24,332 shares during the quarter. Jane Street Group LLC's holdings in EastGroup Properties were worth $622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in EastGroup Properties by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock valued at $1,121,978,000 after acquiring an additional 72,199 shares in the last quarter. Cohen & Steers Inc. raised its holdings in EastGroup Properties by 141.6% in the fourth 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 during the period. FMR LLC increased its position in shares of EastGroup Properties by 1.4% during the fourth quarter. FMR LLC now owns 1,579,515 shares of the real estate investment trust's stock worth $253,496,000 after acquiring an additional 21,432 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position 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 worth $226,888,000 after acquiring an additional 273,217 shares in the last quarter. Finally, Boston Partners increased its position in shares of EastGroup Properties by 34.1% during the fourth quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust's stock worth $169,533,000 after acquiring an additional 268,359 shares in the last quarter. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Down 0.4%

EGP traded down $0.74 on Friday, hitting $169.84. 500,930 shares of the company were exchanged, compared to its average volume of 374,776. EastGroup Properties, Inc. has a twelve month low of $137.67 and a twelve month high of $192.61. The company has a market cap of $8.92 billion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. 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 firm has a 50-day moving average price of $164.61 and a two-hundred day moving average price of $169.06.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.01. The business had revenue of $174.45 million during 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 business's quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.98 EPS. On average, equities analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $5.60 annualized dividend and a yield of 3.30%. EastGroup Properties's dividend payout ratio is presently 122.54%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Piper Sandler dropped their target price 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. Raymond James reiterated a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. Evercore ISI upped their price objective on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research report on Thursday, April 24th. Finally, Truist Financial lowered their price objective on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Eight 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 an average rating of "Moderate Buy" and a consensus price target of $186.60.

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.