Two Sigma Advisers LP Has $37.07 Million Stock Holdings in EastGroup Properties, Inc. (NYSE:EGP)

Two Sigma Advisers LP increased its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 102.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 period. Two Sigma Advisers LP owned about 0.47% of EastGroup Properties worth $37,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of EastGroup Properties by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,990,950 shares of the real estate investment trust's stock worth $1,121,978,000 after acquiring an additional 72,199 shares during the period. Cohen & Steers Inc. raised its holdings in shares of EastGroup Properties by 141.6% during 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 acquiring an additional 1,673,663 shares during the period. FMR LLC raised its holdings 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 during the period. T. Rowe Price Investment Management Inc. raised 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 worth $226,888,000 after acquiring an additional 273,217 shares during the period. Finally, Boston Partners raised its holdings 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 during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EGP has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Piper Sandler dropped their price objective on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Truist Financial decreased their target price 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. Wells Fargo & Company decreased their target price 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. Finally, Evercore ISI raised their target price on shares of EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $186.60.

EastGroup Properties Stock Performance

Shares of EGP opened at $172.58 on Tuesday. The firm has a 50-day moving average of $166.37 and a 200-day moving average of $169.43. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.61. The company has a market cap of $9.06 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 EPS. As a group, equities analysts forecast that EastGroup Properties, Inc. will post 8.94 earnings per share for the current year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Monday, March 31st. EastGroup Properties's payout ratio is 122.54%.

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.

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