ExodusPoint Capital Management LP purchased a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 179,846 shares of the real estate investment trust’s stock, valued at approximately $31,221,000. ExodusPoint Capital Management LP owned approximately 0.40% of EastGroup Properties as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC lifted its position in EastGroup Properties by 4.2% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,621 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 65 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of EastGroup Properties by 1.4% during the first quarter. Toronto Dominion Bank now owns 4,708 shares of the real estate investment trust’s stock worth $778,000 after acquiring an additional 65 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of EastGroup Properties by 2.4% in the 1st quarter. MML Investors Services LLC now owns 2,844 shares of the real estate investment trust’s stock worth $470,000 after acquiring an additional 68 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of EastGroup Properties by 6.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 79 shares in the last quarter. Finally, Natixis Advisors L.P. grew its holdings in shares of EastGroup Properties by 0.3% during the 1st quarter. Natixis Advisors L.P. now owns 31,433 shares of the real estate investment trust’s stock valued at $5,196,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.
Analyst Ratings Changes
Several analysts have weighed in on EGP shares. Wedbush assumed coverage on shares of EastGroup Properties in a research note on Tuesday, October 3rd. They issued a “neutral” rating and a $175.00 price target for the company. BTIG Research increased their target price on EastGroup Properties from $198.00 to $218.00 in a report on Wednesday, July 26th. Wells Fargo & Company raised their price target on EastGroup Properties from $165.00 to $179.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. StockNews.com assumed coverage on EastGroup Properties in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Evercore ISI cut their target price on shares of EastGroup Properties from $177.00 to $170.00 in a report on Monday, October 9th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, EastGroup Properties has a consensus rating of “Moderate Buy” and an average target price of $186.08.
EastGroup Properties Trading Up 0.4 %
EGP stock traded up $0.73 on Monday, hitting $170.73. The company had a trading volume of 102,036 shares, compared to its average volume of 260,485. EastGroup Properties, Inc. has a 12-month low of $144.40 and a 12-month high of $188.85. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 43.04, a P/E/G ratio of 2.63 and a beta of 0.97. The stock’s 50-day simple moving average is $167.31 and its 200 day simple moving average is $171.52.
EastGroup Properties Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $1.27 dividend. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.25. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Thursday, September 28th. EastGroup Properties’s dividend payout ratio (DPR) is 128.61%.
EastGroup Properties Company 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.
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