Jefferies Financial Group Inc. Buys Shares of 2,700 EastGroup Properties, Inc. (NYSE:EGP)

Jefferies Financial Group Inc. acquired a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,700 shares of the real estate investment trust's stock, valued at approximately $433,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EGP. CIBC Asset Management Inc boosted its stake in shares of EastGroup Properties by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock worth $234,000 after purchasing an additional 72 shares during the period. Principal Securities Inc. lifted its stake in EastGroup Properties by 18.5% in the fourth 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. waypoint wealth counsel boosted its position in shares of EastGroup Properties by 1.9% during the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of EastGroup Properties by 1.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,042 shares of the real estate investment trust's stock valued at $1,612,000 after buying an additional 100 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of EastGroup Properties by 1.4% during the fourth quarter. US Bancorp DE now owns 7,395 shares of the real estate investment trust's stock valued at $1,187,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 92.14% of the company's stock.

Wall Street Analysts Forecast Growth

EGP has been the subject of a number of research analyst reports. Raymond James reissued a "strong-buy" rating on shares of EastGroup Properties in a research note on Wednesday, May 7th. Barclays decreased their target price on EastGroup Properties from $193.00 to $182.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of EastGroup Properties from $199.00 to $187.00 and set an "overweight" rating on the stock in a report on Monday. Truist Financial decreased their price objective on shares of EastGroup Properties from $180.00 to $177.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Evercore ISI boosted their price objective 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, EastGroup Properties currently has a consensus rating of "Moderate Buy" and an average price target of $186.60.

EastGroup Properties Stock Down 2.4%

NYSE:EGP traded down $4.11 during trading hours on Wednesday, reaching $167.00. The company's stock had a trading volume of 146,080 shares, compared to its average volume of 371,160. The stock has a 50 day moving average price of $166.26 and a two-hundred day moving average price of $169.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $8.77 billion, a P/E ratio of 35.93, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly 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 firm had revenue of $174.45 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 EPS. Equities analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend 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.