Point72 Asset Management L.P. Decreases Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Point72 Asset Management L.P. decreased its position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 30.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,909 shares of the real estate investment trust's stock after selling 10,690 shares during the quarter. Point72 Asset Management L.P. owned 0.05% of EastGroup Properties worth $3,998,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in shares of EastGroup Properties during the 4th quarter worth approximately $29,000. Canton Hathaway LLC acquired a new position in shares of EastGroup Properties during the 4th quarter worth approximately $30,000. Principal Securities Inc. raised its position in shares of EastGroup Properties by 18.5% during the 4th quarter. Principal Securities Inc. now owns 538 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 84 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of EastGroup Properties during the 4th quarter worth approximately $100,000. Finally, Venturi Wealth Management LLC raised its position in shares of EastGroup Properties by 69.9% during the 4th quarter. Venturi Wealth Management LLC now owns 700 shares of the real estate investment trust's stock worth $112,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EGP shares. Robert W. Baird cut their price objective on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. StockNews.com upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Raymond James restated a "strong-buy" rating on shares of EastGroup Properties in a research report on Wednesday, May 7th. Evercore ISI lifted their price objective on 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, Royal Bank of Canada cut their price target on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $186.60.

EastGroup Properties Trading Down 0.3%

EGP stock opened at $172.58 on Tuesday. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 3.35 and a beta of 1.05. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $166.37 and a 200-day simple moving average of $169.43. EastGroup Properties, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61.

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 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.01. The business had revenue of $174.45 million during 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 business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $1.40 per share. The ex-dividend date was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.24%. EastGroup Properties's payout ratio 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.

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