Edgestream Partners L.P. Buys 3,143 Shares of EastGroup Properties, Inc. (NYSE:EGP)

Edgestream Partners L.P. raised its stake in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 70.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,574 shares of the real estate investment trust's stock after acquiring an additional 3,143 shares during the period. Edgestream Partners L.P.'s holdings in EastGroup Properties were worth $1,415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gradient Investments LLC acquired a new stake in EastGroup Properties in the second quarter valued at $32,000. V Square Quantitative Management LLC raised its position in shares of EastGroup Properties by 47.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock worth $35,000 after buying an additional 61 shares during the period. Quest Partners LLC lifted its position in shares of 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 worth $36,000 after purchasing an additional 208 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of EastGroup Properties by 30.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 345 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 80 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of EastGroup Properties during the second quarter worth $66,000. Institutional investors own 92.14% of the company's stock.

EastGroup Properties Stock Up 0.0 %

EastGroup Properties stock traded up $0.05 during midday trading on Wednesday, reaching $169.83. The stock had a trading volume of 241,021 shares, compared to its average volume of 301,684. The company has a market capitalization of $8.41 billion, a P/E ratio of 35.08, a PEG ratio of 2.22 and a beta of 0.99. 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 company has a fifty day moving average price of $176.69 and a two-hundred day moving average price of $177.42. EastGroup Properties, Inc. has a 12 month low of $155.23 and a 12 month high of $192.61.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings data 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). EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm had revenue of $162.88 million during the quarter, compared to analysts' expectations of $161.52 million. During the same quarter in the previous year, the firm earned $1.95 earnings per share. EastGroup Properties's revenue was up 11.2% on a year-over-year basis. As a group, equities analysts expect that EastGroup Properties, Inc. will post 8.36 EPS for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, December 31st. EastGroup Properties's dividend payout ratio is presently 115.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $186.00 price target on shares of EastGroup Properties in a report on Wednesday, October 30th. Mizuho upgraded EastGroup Properties from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. Morgan Stanley raised their price target on EastGroup Properties from $158.00 to $186.00 and gave the stock an "equal weight" rating in a report on Thursday, August 22nd. Wells Fargo & Company lowered their price objective on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Finally, Barclays decreased their target price on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating for the company in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, EastGroup Properties has a consensus rating of "Hold" and an average price target of $191.21.

EastGroup Properties Company 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.