Centiva Capital LP Purchases Shares of 3,437 EastGroup Properties, Inc. (NYSE:EGP)

Centiva Capital LP bought a new position in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,437 shares of the real estate investment trust's stock, valued at approximately $642,000.

Other institutional investors have also recently modified their holdings of the company. Edgestream Partners L.P. raised its holdings in EastGroup Properties by 70.9% in the 3rd quarter. Edgestream Partners L.P. now owns 7,574 shares of the real estate investment trust's stock worth $1,415,000 after purchasing an additional 3,143 shares during the period. Eventide Asset Management LLC increased its position in shares of EastGroup Properties by 20.3% in the third quarter. Eventide Asset Management LLC now owns 188,661 shares of the real estate investment trust's stock valued at $35,246,000 after buying an additional 31,790 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of EastGroup Properties by 7.9% during the 3rd quarter. Captrust Financial Advisors now owns 8,282 shares of the real estate investment trust's stock worth $1,547,000 after buying an additional 607 shares during the period. Martingale Asset Management L P purchased a new position in shares of EastGroup Properties during the 3rd quarter valued at approximately $202,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in EastGroup Properties by 355.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 391,594 shares of the real estate investment trust's stock valued at $73,158,000 after acquiring an additional 305,555 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EGP has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating for the company in a research report on Wednesday, November 13th. Morgan Stanley upped their price target on shares of EastGroup Properties from $158.00 to $186.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 22nd. Wedbush reiterated an "outperform" rating and issued a $209.00 price objective on shares of EastGroup Properties in a report on Friday, October 25th. Evercore ISI increased their target price on EastGroup Properties from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, October 7th. Finally, Barclays decreased their target price on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $191.21.

EastGroup Properties Trading Down 0.6 %

Shares of EGP stock traded down $0.98 on Friday, hitting $168.00. 193,209 shares of the stock traded hands, compared to its average volume of 291,072. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. EastGroup Properties, Inc. has a twelve month low of $155.23 and a twelve month high of $192.61. The firm's 50-day moving average price is $175.55 and its two-hundred day moving average price is $177.41. The stock has a market capitalization of $8.32 billion, a PE ratio of 34.71, a PEG ratio of 2.21 and a beta of 0.99.

EastGroup Properties (NYSE:EGP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). The firm had revenue of $162.88 million for the quarter, compared to analysts' expectations of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. EastGroup Properties's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.95 earnings per share. As a group, analysts anticipate that EastGroup Properties, Inc. will post 8.36 EPS for the current year.

EastGroup Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, December 31st. This represents a $5.60 annualized dividend and a yield of 3.33%. EastGroup Properties's dividend payout ratio (DPR) is 115.70%.

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.