EastGroup Properties, Inc. (NYSE:EGP) Holdings Boosted by Two Sigma Investments LP

Two Sigma Investments LP raised its position in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 210,452 shares of the real estate investment trust's stock after buying an additional 2,612 shares during the period. Two Sigma Investments LP owned approximately 0.43% of EastGroup Properties worth $33,775,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Crowley Wealth Management Inc. purchased a new position in EastGroup Properties in the fourth quarter valued at about $29,000. Canton Hathaway LLC acquired a new position in shares of EastGroup Properties in the 4th quarter valued at approximately $30,000. Principal Securities Inc. boosted its stake 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 valued at $86,000 after buying an additional 84 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of EastGroup Properties during the fourth quarter worth approximately $100,000. Finally, Venturi Wealth Management LLC increased its stake in shares of EastGroup Properties by 69.9% in the fourth quarter. Venturi Wealth Management LLC now owns 700 shares of the real estate investment trust's stock worth $112,000 after buying an additional 288 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on EGP shares. Barclays reduced 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 research note on Wednesday, April 30th. Piper Sandler reduced their price target on shares of EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird decreased their price target on EastGroup Properties from $194.00 to $190.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Truist Financial cut their price objective on EastGroup Properties from $180.00 to $177.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen raised EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $186.60.

EastGroup Properties Stock Performance

EGP traded down $1.30 during trading hours on Monday, hitting $164.69. The company's stock had a trading volume of 301,646 shares, compared to its average volume of 373,562. The company has a 50-day simple moving average of $165.40 and a 200 day simple moving average of $169.26. 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 market capitalization of $8.65 billion, a PE ratio of 35.42, a PEG ratio of 3.35 and a beta of 1.05. EastGroup Properties, Inc. has a fifty-two week low of $137.67 and a fifty-two week high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. The business had revenue of $174.45 million for the quarter, compared to analysts' expectations of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The company's revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 earnings per share. As a group, sell-side 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 will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $5.60 annualized dividend and a dividend yield of 3.40%. EastGroup Properties's dividend payout ratio (DPR) is 122.54%.

About EastGroup Properties

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.