XTX Topco Ltd Invests $563,000 in EastGroup Properties, Inc. (NYSE:EGP)

XTX Topco Ltd purchased a new stake in shares of EastGroup Properties, Inc. (NYSE:EGP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,308 shares of the real estate investment trust’s stock, valued at approximately $563,000.

A number of other hedge funds have also bought and sold shares of EGP. Gradient Investments LLC purchased a new stake in shares of EastGroup Properties during the 2nd quarter valued at $32,000. Quest Partners LLC grew its position in EastGroup Properties by 10,400.0% during the second quarter. Quest Partners LLC now owns 210 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 208 shares during the period. Mather Group LLC. purchased a new stake in EastGroup Properties during the first quarter worth about $42,000. EverSource Wealth Advisors LLC raised its position in EastGroup Properties by 1,938.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 265 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 252 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in EastGroup Properties in the fourth quarter valued at about $55,000. 92.14% of the stock is currently owned by institutional investors.

EastGroup Properties Stock Performance

EastGroup Properties stock opened at $189.38 on Tuesday. EastGroup Properties, Inc. has a 1-year low of $154.75 and a 1-year high of $192.61. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $9.12 billion, a PE ratio of 41.08, a price-to-earnings-growth ratio of 2.74 and a beta of 0.99. The firm’s 50 day simple moving average is $185.58 and its 200 day simple moving average is $174.78.

EastGroup Properties (NYSE:EGP) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.91). The firm had revenue of $159.09 million during the quarter, compared to the consensus estimate of $156.70 million. EastGroup Properties had a return on equity of 8.69% and a net margin of 37.16%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 EPS. As a group, analysts expect that EastGroup Properties, Inc. will post 8.32 earnings per share for the current fiscal year.

EastGroup Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Monday, September 30th. This is an increase from EastGroup Properties’s previous quarterly dividend of $1.27. EastGroup Properties’s dividend payout ratio (DPR) is 121.48%.

Analyst Ratings Changes

EGP has been the subject of several research analyst reports. Evercore ISI upgraded shares of EastGroup Properties from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $192.00 to $204.00 in a research note on Monday, September 16th. Royal Bank of Canada raised their target price on EastGroup Properties from $172.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 30th. Mizuho raised EastGroup Properties from a “neutral” rating to an “outperform” rating and upped their price target for the company from $175.00 to $200.00 in a research report on Thursday, September 5th. Wells Fargo & Company raised EastGroup Properties from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $179.00 to $214.00 in a report on Wednesday, August 28th. Finally, Wedbush upped their price objective on shares of EastGroup Properties from $208.00 to $209.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, EastGroup Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.00.

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.