EastGroup Properties, Inc. (NYSE:EGP) Shares Acquired by Holocene Advisors LP

Holocene Advisors LP increased its holdings in shares of EastGroup Properties, Inc. (NYSE:EGP - Free Report) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,534 shares of the real estate investment trust's stock after purchasing an additional 3,151 shares during the quarter. Holocene Advisors LP owned 0.05% of EastGroup Properties worth $4,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gradient Investments LLC bought a new position in shares of EastGroup Properties in the second quarter worth about $32,000. V Square Quantitative Management LLC grew its holdings in EastGroup Properties by 47.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 189 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 61 shares in the last quarter. Quest Partners LLC grew its holdings in EastGroup Properties by 10,400.0% during the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 valued at $62,000 after buying an additional 80 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of EastGroup Properties in the 2nd quarter worth approximately $66,000. 92.14% of the stock is owned by institutional investors.

EastGroup Properties Stock Down 0.5 %

Shares of NYSE:EGP traded down $0.79 on Thursday, reaching $168.98. The company had a trading volume of 240,275 shares, compared to its average volume of 301,422. EastGroup Properties, Inc. has a 52-week low of $155.23 and a 52-week high of $192.61. The firm's 50 day simple moving average is $176.32 and its 200-day simple moving average is $177.37. The firm has a market capitalization of $8.37 billion, a PE ratio of 34.90, a PEG ratio of 2.21 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.

EastGroup Properties (NYSE:EGP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.10 by ($0.97). EastGroup Properties had a net margin of 37.19% and a return on equity of 8.56%. The company had revenue of $162.88 million during the quarter, compared to analysts' expectations of $161.52 million. During the same quarter in the prior year, the business posted $1.95 earnings per share. The company's revenue was up 11.2% compared to the same quarter last year. As a group, analysts expect that EastGroup Properties, Inc. will post 8.36 earnings per share for the current fiscal year.

EastGroup Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $5.60 annualized dividend and a yield of 3.31%. EastGroup Properties's payout ratio is presently 115.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EGP shares. StockNews.com cut EastGroup Properties from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Evercore ISI lifted their target price on EastGroup Properties from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, October 7th. Wells Fargo & Company dropped their target price on EastGroup Properties from $214.00 to $199.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Barclays dropped their target price on EastGroup Properties from $198.00 to $193.00 and set an "equal weight" rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $186.00 price target on shares of EastGroup Properties in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, EastGroup Properties presently has an average rating of "Hold" and an average 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.