EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in shares of EastGroup Properties, Inc. (NYSE:EGP – Get Rating) by 79.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,900 shares of the real estate investment trust’s stock after selling 143,700 shares during the period. Renaissance Technologies LLC’s holdings in EastGroup Properties were worth $5,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new stake in shares of EastGroup Properties during the 1st quarter worth approximately $354,000. Group One Trading L.P. purchased a new position in EastGroup Properties during the 1st quarter worth $41,000. Private Advisor Group LLC raised its position in EastGroup Properties by 10.3% during the 1st quarter. Private Advisor Group LLC now owns 1,212 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 113 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in EastGroup Properties during the 1st quarter worth $12,520,000. Finally, Vanguard Group Inc. raised its position in EastGroup Properties by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 6,172,033 shares of the real estate investment trust’s stock worth $1,254,651,000 after buying an additional 133,344 shares during the last quarter. Institutional investors and hedge funds own 89.48% of the company’s stock.

EastGroup Properties Stock Performance

Shares of EGP stock opened at $156.14 on Friday. EastGroup Properties, Inc. has a one year low of $137.47 and a one year high of $217.46. The company’s 50-day simple moving average is $163.27 and its 200-day simple moving average is $157.05. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 35.57, a PEG ratio of 3.86 and a beta of 0.92.

EastGroup Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.00 annualized dividend and a dividend yield of 3.20%. EastGroup Properties’s payout ratio is 113.90%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of EastGroup Properties from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, February 21st. Robert W. Baird upped their target price on EastGroup Properties from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Wells Fargo & Company upped their target price on EastGroup Properties from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 22nd. KeyCorp raised EastGroup Properties from a “sector weight” rating to an “overweight” rating and set a $170.00 target price on the stock in a research note on Wednesday, December 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price on shares of EastGroup Properties in a research note on Wednesday, February 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, EastGroup Properties has an average rating of “Hold” and an average target price of $169.80.

About EastGroup Properties

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EastGroup Properties, Inc is an internally-managed equity real estate investment trust, which engages in the development, acquisition, and operation of industrial properties. The company was founded in 1969 and is headquartered in Ridgeland, MS.