EastGroup Properties, Inc. (NYSE:EGP) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP) by 47.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,961 shares of the real estate investment trust’s stock after selling 2,715 shares during the period. Quantbot Technologies LP’s holdings in EastGroup Properties were worth $475,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in EastGroup Properties by 40.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,894 shares of the real estate investment trust’s stock worth $4,316,000 after acquiring an additional 7,716 shares during the period. Teacher Retirement System of Texas raised its position in shares of EastGroup Properties by 6.6% during the 4th quarter. Teacher Retirement System of Texas now owns 18,065 shares of the real estate investment trust’s stock worth $2,899,000 after purchasing an additional 1,115 shares during the period. Xponance Inc. lifted its holdings in shares of EastGroup Properties by 6.9% in the 4th quarter. Xponance Inc. now owns 5,622 shares of the real estate investment trust’s stock worth $902,000 after purchasing an additional 365 shares during the last quarter. Boston Partners boosted its position in EastGroup Properties by 34.1% during the 4th quarter. Boston Partners now owns 1,056,232 shares of the real estate investment trust’s stock valued at $169,533,000 after purchasing an additional 268,359 shares during the period. Finally, Cibc World Markets Corp grew its stake in EastGroup Properties by 11.7% during the 4th quarter. Cibc World Markets Corp now owns 14,365 shares of the real estate investment trust’s stock worth $2,305,000 after buying an additional 1,508 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. KeyCorp reiterated a “sector weight” rating on shares of EastGroup Properties in a research note on Tuesday, December 17th. Morgan Stanley decreased their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, December 30th. Evercore ISI reaffirmed an “in-line” rating and set a $185.00 price target (up previously from $181.00) on shares of EastGroup Properties in a report on Monday, March 17th. Jefferies Financial Group raised EastGroup Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $174.00 to $194.00 in a report on Thursday, January 2nd. Finally, Robert W. Baird lifted their target price on EastGroup Properties from $192.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.47.

EastGroup Properties Trading Down 0.3 %

EastGroup Properties stock opened at $176.19 on Friday. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 37.89, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. EastGroup Properties, Inc. has a 1 year low of $155.10 and a 1 year high of $192.61. The firm’s 50 day moving average price is $176.92 and its two-hundred day moving average price is $174.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.12 and a current ratio of 0.12.

EastGroup Properties (NYSE:EGP) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99. EastGroup Properties had a return on equity of 7.89% and a net margin of 35.57%. On average, research analysts predict that EastGroup Properties, Inc. will post 8.94 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Monday, March 31st. EastGroup Properties’s dividend payout ratio is presently 120.43%.

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.