Jump Financial LLC Sells 19,100 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Jump Financial LLC cut its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 82.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,100 shares of the real estate investment trust's stock after selling 19,100 shares during the quarter. Jump Financial LLC's holdings in EastGroup Properties were worth $658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CIBC Asset Management Inc grew its holdings in shares of EastGroup Properties by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,458 shares of the real estate investment trust's stock valued at $234,000 after purchasing an additional 72 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of EastGroup Properties by 18.5% in the fourth 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 in the last quarter. Versant Capital Management Inc grew its holdings in shares of EastGroup Properties by 18.7% in the fourth quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after purchasing an additional 95 shares in the last quarter. waypoint wealth counsel grew its holdings in shares of EastGroup Properties by 1.9% in the fourth quarter. waypoint wealth counsel now owns 5,400 shares of the real estate investment trust's stock valued at $867,000 after purchasing an additional 100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of EastGroup Properties by 1.0% in 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 purchasing an additional 100 shares in the last quarter. 92.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on EGP. StockNews.com raised shares of EastGroup Properties from a "sell" rating to a "hold" rating in a research note on Sunday. Robert W. Baird increased their target price on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of EastGroup Properties in a research note on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price on the stock. Morgan Stanley reduced their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, December 30th. Finally, Evercore ISI increased 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 note on Thursday. Nine 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.com, EastGroup Properties presently has an average rating of "Moderate Buy" and a consensus price target of $187.81.

EastGroup Properties Stock Up 0.6 %

NYSE EGP traded up $0.95 during trading on Monday, reaching $163.92. 481,243 shares of the company's stock traded hands, compared to its average volume of 367,920. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. The company's 50 day simple moving average is $170.72 and its two-hundred day simple moving average is $170.49. 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 posted its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS 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 the consensus estimate 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 for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 EPS. As a group, sell-side analysts forecast that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Monday, March 31st. 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.