Susquehanna Fundamental Investments LLC Acquires Shares of 7,472 EastGroup Properties, Inc. (NYSE:EGP)

Susquehanna Fundamental Investments LLC bought a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,472 shares of the real estate investment trust's stock, valued at approximately $1,199,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EGP. Two Sigma Securities LLC acquired a new stake in EastGroup Properties during the fourth quarter worth about $282,000. T. Rowe Price Investment Management Inc. raised its position in shares of EastGroup Properties by 24.0% during the 4th 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 purchasing an additional 273,217 shares during the period. Pinebridge Investments L.P. lifted its holdings in shares of EastGroup Properties by 33.4% in the 4th quarter. Pinebridge Investments L.P. now owns 21,609 shares of the real estate investment trust's stock worth $3,468,000 after purchasing an additional 5,408 shares during the last quarter. Dark Forest Capital Management LP boosted its position in EastGroup Properties by 244.6% during the 4th quarter. Dark Forest Capital Management LP now owns 3,791 shares of the real estate investment trust's stock valued at $608,000 after purchasing an additional 2,691 shares during the period. Finally, Hsbc Holdings PLC grew its stake in EastGroup Properties by 55.1% during the 4th quarter. Hsbc Holdings PLC now owns 80,792 shares of the real estate investment trust's stock worth $12,963,000 after buying an additional 28,718 shares during the last quarter. 92.14% of the stock is owned by institutional investors and hedge funds.

EastGroup Properties Price Performance

EGP stock traded up $0.77 during trading hours on Wednesday, hitting $166.08. 28,647 shares of the stock traded hands, compared to its average volume of 368,316. The stock has a 50-day simple moving average of $168.91 and a 200 day simple moving average of $169.88. The company has a market cap of $8.72 billion, a P/E ratio of 35.68, a P/E/G ratio of 3.35 and a beta of 1.05. EastGroup Properties, Inc. has a one year low of $137.67 and a one year high of $192.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.46.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.01. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. The company had revenue of $174.45 million for the quarter, compared to analysts' expectations of $169.67 million. During the same quarter in the previous year, the company posted $1.98 EPS. The business's revenue was up 13.1% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.37%. EastGroup Properties's dividend payout ratio (DPR) is presently 122.54%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EGP. Robert W. Baird boosted their price target on shares of EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Barclays decreased their target price on shares of 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. Evercore ISI raised their price target 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, April 24th. Piper Sandler reduced their price objective on EastGroup Properties from $175.00 to $172.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, StockNews.com upgraded EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday, April 27th. Eight research 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 stock. According to data from MarketBeat.com, EastGroup Properties presently has an average rating of "Moderate Buy" and an average target price of $187.00.

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.