Jump Financial LLC Lowers Position in EastGroup Properties, Inc. (NYSE:EGP)

Jump Financial LLC trimmed its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 82.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,100 shares of the real estate investment trust's stock after selling 19,100 shares during the period. Jump Financial LLC's holdings in EastGroup Properties were worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EGP. Franklin Resources Inc. grew its stake in EastGroup Properties by 337.0% during the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock valued at $8,728,000 after acquiring an additional 37,863 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in EastGroup Properties by 20.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,625 shares of the real estate investment trust's stock valued at $261,000 after buying an additional 275 shares during the period. Bank of New York Mellon Corp grew its position in EastGroup Properties by 5.5% during the fourth quarter. Bank of New York Mellon Corp now owns 452,429 shares of the real estate investment trust's stock worth $72,610,000 after buying an additional 23,626 shares in the last quarter. BankPlus Trust Department bought a new position in EastGroup Properties in the 4th quarter worth about $1,871,000. Finally, Nordea Investment Management AB boosted its position in shares of EastGroup Properties by 6.1% during the 4th quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock valued at $11,667,000 after acquiring an additional 4,176 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EGP shares. Raymond James set a $190.00 target price on shares of EastGroup Properties and gave the company a "strong-buy" rating in a research note on Monday, April 14th. Robert W. Baird raised their price target on EastGroup Properties from $192.00 to $194.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Truist Financial upgraded EastGroup Properties from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft began coverage on EastGroup Properties in a research report on Tuesday, January 14th. They issued a "buy" rating and a $180.00 target price for the company. Finally, Evercore ISI lifted their price target on shares of EastGroup Properties from $179.00 to $180.00 and gave the stock an "in-line" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, EastGroup Properties presently has an average rating of "Hold" and a consensus target price of $187.81.

EastGroup Properties Trading Up 0.2 %

Shares of NYSE EGP traded up $0.26 during trading hours on Friday, hitting $163.18. The company's stock had a trading volume of 446,188 shares, compared to its average volume of 367,199. The business has a 50-day simple moving average of $171.05 and a 200-day simple moving average of $170.68. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12. EastGroup Properties, Inc. has a 12 month low of $137.67 and a 12 month high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.01. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. The firm had revenue of $174.45 million for the quarter, compared to analysts' expectations of $169.67 million. On average, analysts anticipate that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 3.43%. The ex-dividend date of this dividend was Monday, March 31st. EastGroup Properties's payout ratio is 122.54%.

EastGroup Properties 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.