GAMMA Investing LLC Acquires Shares of 175 EastGroup Properties, Inc. (NYSE:EGP)

GAMMA Investing LLC bought a new position in EastGroup Properties, Inc. (NYSE:EGP) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 175 shares of the real estate investment trust’s stock, valued at approximately $31,000.

A number of other hedge funds also recently made changes to their positions in EGP. Duality Advisers LP bought a new stake in EastGroup Properties in the 4th quarter worth approximately $334,000. Handelsbanken Fonder AB lifted its holdings in shares of EastGroup Properties by 0.3% in the 4th quarter. Handelsbanken Fonder AB now owns 187,858 shares of the real estate investment trust’s stock valued at $34,479,000 after acquiring an additional 500 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in EastGroup Properties by 1.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,259 shares of the real estate investment trust’s stock worth $1,883,000 after acquiring an additional 172 shares in the last quarter. Xponance Inc. increased its stake in EastGroup Properties by 3.4% during the fourth quarter. Xponance Inc. now owns 5,553 shares of the real estate investment trust’s stock worth $1,019,000 after acquiring an additional 182 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in EastGroup Properties by 5.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,791 shares of the real estate investment trust’s stock valued at $3,449,000 after purchasing an additional 1,026 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Trading Up 0.8 %

NYSE EGP opened at $159.86 on Monday. The company’s 50-day simple moving average is $172.39 and its two-hundred day simple moving average is $174.81. EastGroup Properties, Inc. has a one year low of $154.75 and a one year high of $188.85. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, March 27th. EastGroup Properties’s dividend payout ratio (DPR) is 110.20%.

Insiders Place Their Bets

In other news, CFO Brent Wood sold 2,500 shares of EastGroup Properties stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $182.74, for a total value of $456,850.00. Following the transaction, the chief financial officer now directly owns 102,617 shares in the company, valued at approximately $18,752,230.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EGP shares. Truist Financial lifted their target price on EastGroup Properties from $186.00 to $188.00 and gave the stock a “hold” rating in a report on Tuesday, February 20th. KeyCorp cut their price target on shares of EastGroup Properties from $198.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of EastGroup Properties from $190.00 to $183.00 and set a “neutral” rating for the company in a research note on Thursday. Evercore ISI cut their target price on EastGroup Properties from $190.00 to $178.00 and set an “in-line” rating on the stock in a research note on Thursday, April 25th. Finally, Robert W. Baird decreased their price target on EastGroup Properties from $195.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, EastGroup Properties presently has a consensus rating of “Hold” and a consensus target price of $185.13.

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.