XTX Topco Ltd Has $361,000 Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

XTX Topco Ltd cut its holdings in EastGroup Properties, Inc. (NYSE:EGP) by 41.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,933 shares of the real estate investment trust’s stock after selling 1,375 shares during the period. XTX Topco Ltd’s holdings in EastGroup Properties were worth $361,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its position in EastGroup Properties by 3.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,072 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 138 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of EastGroup Properties by 6,133.3% during the 2nd quarter. Blue Trust Inc. now owns 935 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 920 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of EastGroup Properties by 5.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,481 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 192 shares during the period. Nisa Investment Advisors LLC raised its stake in EastGroup Properties by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 31,093 shares of the real estate investment trust’s stock valued at $5,328,000 after purchasing an additional 103 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in EastGroup Properties during the second quarter worth about $244,000. 92.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EGP has been the topic of several recent analyst reports. Evercore ISI raised their target price on shares of EastGroup Properties from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Wells Fargo & Company decreased their price objective on shares of EastGroup Properties from $214.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Raymond James upgraded EastGroup Properties from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $185.00 to $200.00 in a research note on Wednesday, December 11th. Wedbush reiterated an “outperform” rating and issued a $209.00 price target on shares of EastGroup Properties in a research note on Friday, October 25th. Finally, Truist Financial lowered their price target on EastGroup Properties from $190.00 to $186.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, EastGroup Properties presently has an average rating of “Moderate Buy” and an average price target of $191.80.

EastGroup Properties Stock Performance

NYSE:EGP opened at $169.76 on Tuesday. The stock’s 50-day moving average is $174.26 and its 200-day moving average is $177.95. EastGroup Properties, Inc. has a 1-year low of $155.23 and a 1-year high of $192.61. 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 stock has a market cap of $8.40 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 2.22 and a beta of 0.99.

EastGroup Properties (NYSE:EGP) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.97). The business had revenue of $162.88 million for the quarter, compared to the consensus estimate of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.95 earnings per share. Equities research analysts anticipate that EastGroup Properties, Inc. will post 8.36 earnings per share for the current year.

EastGroup Properties Announces Dividend

The business 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 dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, December 31st. EastGroup Properties’s dividend payout ratio is currently 115.70%.

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.