Janus Henderson Group PLC Buys 60,624 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Janus Henderson Group PLC grew its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 387,972 shares of the real estate investment trust's stock after purchasing an additional 60,624 shares during the period. Janus Henderson Group PLC owned approximately 0.78% of EastGroup Properties worth $72,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Gradient Investments LLC acquired a new position in EastGroup Properties during the second quarter worth approximately $32,000. V Square Quantitative Management LLC increased its position in EastGroup Properties by 47.7% during the third quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock worth $35,000 after buying an additional 61 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Headlands Technologies LLC acquired a new position in EastGroup Properties during the second quarter worth approximately $66,000. Finally, GAMMA Investing LLC grew its stake in EastGroup Properties by 90.7% during the third quarter. GAMMA Investing LLC now owns 536 shares of the real estate investment trust's stock worth $100,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 92.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $209.00 target price on shares of EastGroup Properties in a research note on Friday, October 25th. Royal Bank of Canada restated a "sector perform" rating and issued a $186.00 target price on shares of EastGroup Properties in a report on Wednesday, October 30th. Truist Financial lowered their price target on shares of EastGroup Properties from $190.00 to $186.00 and set a "hold" rating on the stock in a report on Wednesday, November 13th. Mizuho upgraded shares of EastGroup Properties from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $175.00 to $200.00 in a report on Thursday, September 5th. Finally, StockNews.com downgraded shares of EastGroup Properties from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $191.21.

EastGroup Properties Stock Down 0.6 %

Shares of EGP stock traded down $0.98 during midday trading on Friday, reaching $168.00. 186,141 shares of the stock were exchanged, compared to its average volume of 300,964. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.57. The company's 50 day moving average is $175.95 and its two-hundred day moving average is $177.31. The firm has a market cap of $8.32 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. EastGroup Properties, Inc. has a 1 year low of $155.23 and a 1 year high of $192.61.

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

EastGroup Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.33%. EastGroup Properties's dividend payout ratio is currently 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.