EastGroup Properties, Inc. (NYSE:EGP) Holdings Cut by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 714,583 shares of the real estate investment trust's stock after selling 6,711 shares during the period. Dimensional Fund Advisors LP owned about 1.44% of EastGroup Properties worth $114,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC increased its holdings in EastGroup Properties by 23.2% in the third quarter. Tidal Investments LLC now owns 30,905 shares of the real estate investment trust's stock worth $5,774,000 after buying an additional 5,811 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of EastGroup Properties by 337.0% in the third quarter. Franklin Resources Inc. now owns 49,097 shares of the real estate investment trust's stock worth $8,728,000 after buying an additional 37,863 shares during the last quarter. Legacy Wealth Management LLC MS bought a new stake in shares of EastGroup Properties during the 3rd quarter worth $296,000. Versant Capital Management Inc grew its stake in EastGroup Properties by 18.7% in the 4th quarter. Versant Capital Management Inc now owns 602 shares of the real estate investment trust's stock valued at $97,000 after buying an additional 95 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in EastGroup Properties by 6.1% in the 4th quarter. Nordea Investment Management AB now owns 72,392 shares of the real estate investment trust's stock worth $11,667,000 after acquiring an additional 4,176 shares during the period. 92.14% of the stock is currently owned by hedge funds and other institutional investors.

EastGroup Properties Stock Up 0.2 %

Shares of NYSE:EGP opened at $163.18 on Friday. The company's fifty day moving average is $171.05 and its 200-day moving average is $170.63. 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, Inc. has a 52 week low of $137.67 and a 52 week high of $192.61. The company has a market capitalization of $8.53 billion, a PE ratio of 35.09, a P/E/G ratio of 3.35 and a beta of 0.94.

EastGroup Properties (NYSE:EGP - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The real estate investment trust reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.11 by $0.01. The firm had revenue of $174.45 million for the quarter, compared to analyst estimates of $169.67 million. EastGroup Properties had a net margin of 35.57% and a return on equity of 7.89%. Equities research analysts predict that EastGroup Properties, Inc. will post 8.94 earnings per share for the current fiscal year.

EastGroup Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $1.40 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $5.60 annualized dividend and a yield of 3.43%. EastGroup Properties's payout ratio is 122.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James set a $190.00 price target on shares of EastGroup Properties and gave the company a "strong-buy" rating in a report on Monday, April 14th. Evercore ISI increased their target price on EastGroup Properties from $179.00 to $180.00 and gave the company an "in-line" rating in a research note on Thursday. Robert W. Baird lifted their price target on EastGroup Properties from $192.00 to $194.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. StockNews.com raised EastGroup Properties from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Morgan Stanley dropped their target price on shares of EastGroup Properties from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, December 30th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $187.81.

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.

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