1,759 Shares in EastGroup Properties, Inc. (NYSE:EGP) Acquired by Two Sigma Securities LLC

Two Sigma Securities LLC bought a new stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,759 shares of the real estate investment trust's stock, valued at approximately $282,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. increased 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 valued at $458,347,000 after purchasing an additional 1,673,663 shares during the period. Raymond James Financial Inc. acquired a new position in EastGroup Properties during the 4th quarter valued at about $116,756,000. Norges Bank acquired a new position in EastGroup Properties during the 4th quarter valued at about $100,579,000. Daiwa Securities Group Inc. lifted its stake in shares of EastGroup Properties by 210.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 707,732 shares of the real estate investment trust's stock worth $113,584,000 after acquiring an additional 479,873 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of EastGroup Properties by 24.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,413,716 shares of the real estate investment trust's stock valued at $226,888,000 after acquiring an additional 273,217 shares in the last quarter. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Up 1.8 %

Shares of EastGroup Properties stock traded up $2.96 during midday trading on Friday, hitting $167.04. The company's stock had a trading volume of 317,596 shares, compared to its average volume of 370,181. EastGroup Properties, Inc. has a 1-year low of $137.67 and a 1-year high of $192.61. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $8.77 billion, a P/E ratio of 35.92, a PEG ratio of 3.35 and a beta of 1.05. The stock has a 50-day simple moving average of $169.44 and a 200-day simple moving average of $170.03.

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 EPS for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $1.98 EPS. As a group, sell-side analysts expect 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. Shareholders of record on Monday, March 31st were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, March 31st. EastGroup Properties's dividend payout ratio (DPR) is currently 122.54%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI boosted their target price on EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research note on Tuesday, January 14th. They set a "buy" rating and a $180.00 target price for the company. Truist Financial upgraded shares of EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research report on Thursday, April 10th. Royal Bank of Canada reduced their price objective on shares of EastGroup Properties from $189.00 to $183.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Finally, StockNews.com upgraded shares of EastGroup Properties from a "sell" rating to a "hold" rating in a report on Sunday, April 27th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, EastGroup Properties has an average rating of "Moderate Buy" and a consensus target price of $187.20.

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.