EastGroup Properties, Inc. (NYSE:EGP) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP grew its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 102.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 231,000 shares of the real estate investment trust's stock after acquiring an additional 117,100 shares during the quarter. Two Sigma Advisers LP owned 0.47% of EastGroup Properties worth $37,073,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on EGP. Royal Bank of Canada lowered their target price on EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday, April 27th. 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 note on Thursday, April 24th. Barclays decreased their price objective on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler decreased their price objective 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. 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $186.60.

EastGroup Properties Stock Down 0.8%

Shares of NYSE:EGP traded down $1.30 during trading on Friday, hitting $164.69. The stock had a trading volume of 301,646 shares, compared to its average volume of 373,562. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.61. The company has a market capitalization of $8.65 billion, a PE ratio of 35.42, a PEG ratio of 3.35 and a beta of 1.05. The firm's fifty day moving average is $165.40 and its 200 day moving average is $169.29. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating the consensus estimate of $2.11 by $0.01. The business 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 company's revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $1.98 EPS. Analysts anticipate that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $1.40 dividend. The ex-dividend date is Monday, June 30th. This represents a $5.60 annualized dividend and a yield of 3.40%. EastGroup Properties's dividend payout ratio is currently 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.