Entropy Technologies LP Has $641,000 Stock Position in EastGroup Properties, Inc. (NYSE:EGP)

Entropy Technologies LP trimmed its holdings in EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 48.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,429 shares of the real estate investment trust's stock after selling 3,200 shares during the quarter. Entropy Technologies LP's holdings in EastGroup Properties were worth $641,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of EastGroup Properties by 5.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 95,952 shares of the real estate investment trust's stock valued at $17,242,000 after purchasing an additional 5,342 shares during the period. Tidal Investments LLC lifted its stake in shares of EastGroup Properties by 30.4% in the 1st quarter. Tidal Investments LLC now owns 18,316 shares of the real estate investment trust's stock worth $3,293,000 after acquiring an additional 4,271 shares during the period. Atria Investments Inc increased its stake in shares of EastGroup Properties by 48.9% during the first quarter. Atria Investments Inc now owns 11,389 shares of the real estate investment trust's stock valued at $2,047,000 after acquiring an additional 3,740 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in EastGroup Properties by 30.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 280,759 shares of the real estate investment trust's stock worth $47,757,000 after purchasing an additional 64,984 shares in the last quarter. Finally, Ausbil Investment Management Ltd lifted its position in EastGroup Properties by 261.6% in the third quarter. Ausbil Investment Management Ltd now owns 6,737 shares of the real estate investment trust's stock worth $1,259,000 after purchasing an additional 4,874 shares during the period. 92.14% of the stock is currently owned by institutional investors and hedge funds.

EastGroup Properties Trading Up 0.6 %

NYSE:EGP traded up $0.97 on Friday, hitting $171.97. 362,927 shares of the stock were exchanged, compared to its average volume of 303,547. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.61 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.08 and a current ratio of 0.08. EastGroup Properties, Inc. has a 52 week low of $155.23 and a 52 week high of $192.61. The company's 50-day moving average price is $180.77 and its 200 day moving average price is $176.29.

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 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). The company had revenue of $162.88 million for the quarter, compared to analyst estimates of $161.52 million. EastGroup Properties had a return on equity of 8.56% and a net margin of 37.19%. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $1.95 earnings per share. On average, equities research analysts forecast that EastGroup Properties, Inc. will post 8.35 earnings per share for the current year.

EastGroup Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was 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 presently 115.70%.

Analyst Ratings Changes

A number of research firms have recently commented on EGP. Wedbush reissued an "outperform" rating and issued a $209.00 price objective on shares of EastGroup Properties in a research note on Friday, October 25th. Evercore ISI boosted their target price on shares of EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. StockNews.com cut shares of EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Morgan Stanley upped their price target on EastGroup Properties from $158.00 to $186.00 and gave the company an "equal weight" rating in a report on Thursday, August 22nd. Finally, Mizuho raised EastGroup Properties from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $175.00 to $200.00 in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, EastGroup Properties presently has a consensus rating of "Hold" and a consensus target price 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.