Jane Street Group LLC Raises Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Jane Street Group LLC grew its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 1,861.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,207 shares of the real estate investment trust's stock after acquiring an additional 26,769 shares during the period. Jane Street Group LLC owned 0.06% of EastGroup Properties worth $5,270,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC lifted its position in shares of 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 acquiring an additional 61 shares in the last quarter. Quest Partners LLC raised its position in 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 valued at $36,000 after purchasing an additional 208 shares in the last quarter. Headlands Technologies LLC purchased a new stake in EastGroup Properties during the second quarter valued at about $66,000. GAMMA Investing LLC raised its position 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 valued at $100,000 after purchasing an additional 255 shares in the last quarter. Finally, Quarry LP purchased a new stake in EastGroup Properties during the third quarter valued at about $102,000. Hedge funds and other institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Down 1.2 %

Shares of EastGroup Properties stock traded down $1.98 during midday trading on Tuesday, hitting $167.72. The company had a trading volume of 246,456 shares, compared to its average volume of 301,988. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $8.30 billion, a P/E ratio of 34.65, a P/E/G ratio of 2.22 and a beta of 0.99. The company has a 50 day moving average of $174.07 and a 200 day moving average of $177.97. EastGroup Properties, Inc. has a 52-week low of $155.23 and a 52-week 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.97). The business had revenue of $162.88 million during the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The business's revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $1.95 earnings per share. On average, equities analysts predict that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.60 annualized dividend and a dividend yield of 3.34%. EastGroup Properties's payout ratio is 115.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EGP shares. Barclays lowered their price target 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $186.00 target price on shares of EastGroup Properties in a research note on Wednesday, October 30th. KeyCorp reissued a "sector weight" rating on shares of EastGroup Properties in a research note on Tuesday. Truist Financial lowered their target price on EastGroup Properties from $190.00 to $186.00 and set a "hold" rating for the company in a research note on Wednesday, November 13th. Finally, Evercore ISI boosted their target price on EastGroup Properties from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $191.80.

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.